Factoring-Firm Affiliate Files Chapter 11; Up to $1B Liabilities

BB Capital SPV LLC, an affiliate of an invoice-financing company, filed for Chapter 11 bankruptcy on Monday, according to court documents.

• Estimated total liabilities: $500 million to $1 billion
  • Estimated total assets: less than $50,000
• Factoring providers Carriox Telecap and Carriox Towercap, and telecommunication companies Bridgevoice and Broadband Telecom were listed as affiliates to the debtor
  • Carriox describes it as “a specialty invoice financing company providing direct working capital to cell-tower infrastructure construction,” according to its website
• Creditors to the company include HPS Investment Partners LLC and Alter Domus, the document showed

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