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Muni-Backed Tire Recycler Files Chapter 7 Bankruptcy

Oct. 29, 2020, 12:12 PM

Pyrolyx USA Indiana LLC filed for Chapter 7 protection -- a liquidation bankruptcy -- in Delaware, according to court papers.

  • Co. lists assets and liabilities of at least $50 million each
  • Pyrolyx USA Indiana in April said it couldn’t make loan payments backing municipal bonds sold in 2017 after it shut its plant in Terre Haute because of the coronavirus outbreak
  • Entity is a U.S. unit of Pyrolyx AG
    • Pyrolyx turns used tires into carbon black, which it calls an “essential ingredient” in tires, non-tire rubber goods, and specialty uses
  • In its bankruptcy petition, Pyxrolyx USA Indiana lists ...