Vertex Energy Files Chapter 11 Cases, Has Restructuring Pact (1)

Vertex Energy enters restructuring support agreement with lenders to start expedited voluntary Chapter 11 proceeding.

• Starts Chapter 11 cases in US Bankruptcy Court for Southern District of Texas
• Term loan lenders agreed to provide company with an additional $80m debtor-in-possession financing facility
• In a seperate court filing, Vertex Energy lists both liabilities and assets of $500m-$1b

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(Updates with court filing details in third bullet)

--With assistance from Janine Phakdeetham.

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Jim Silver in New York at jsilver@bloomberg.net

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