Clark Hill PLC Corporate Restructuring & Bankruptcy Group Announces Successful Chapter 11 Debtor Representation of Innatech, LLC
DETROIT, MI – Clark Hill PLC Corporate Restructuring & Bankruptcy Practice Group Leader Robert D. Gordon has announced the sale of Innatech, LLC, a Tier 2 automotive supplier, to EPC-Columbia, Inc, on a going-concern basis for $8 million. Gordon led a Clark Hill team representing and guiding Innatech through the Chapter 11 case and the successful sale process. The sale marks a significant milestone in the Chapter 11 bankruptcy process for Innatech, which filed in the U.S. Bankruptcy Court for the Eastern District of Michigan in Detroit.
“It has been a challenging case, but we are very pleased to have achieved a going-concern sale of the business, which maximizes value to the bankruptcy estate and preserves manufacturing jobs,” Gordon said.
Clark Hill’s Corporate Restructuring & Bankruptcy Practice Group represents debtors, unsecured creditors’ committees, customers, suppliers, lenders, asset purchasers, and other significant parties in interest in bankruptcy and workout matters across the country. In addition to the automotive industry, Clark Hill attorneys have represented parties in interest in numerous other industries, including manufacturing, retail, real estate, gaming, health care, telecommunications, and aviation.