/raid1/www/Hosts/bankrupt/TCR_Public/190608.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, June 8, 2019, Vol. 23, No. 158
Headlines
ACETO CORP: Incurs $9.9 Million Net Loss at Feb. 28
ACETO CORP: Posts $15.18 Million Net Loss at March 31
WINDSTREAM HOLDINGS: Lists $2.22 Billion Net Loss at March 31
*********
ACETO CORP: Incurs $9.9 Million Net Loss at Feb. 28
---------------------------------------------------
Aceto Corporation, et al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for February
2019.
Aceto posted a net loss of $9.9 million at Feb. 28 on $13.05
million of total sales.
At February 28, 2019, Aceto listed $627.61 million in total assets,
$34.99 million in total liabilities not subject to compromise,
$326.16 million in total liabilities subject to compromise, and
$266.45 million in shareholders’ equity
The Debtors listed total cash receipts of $13.86 million and total
cash disbursements of $4.16 million for February 20 to 28, 2019.
A copy of the monthly operating report is available at the SEC at:
https://is.gd/72hpPZ
About ACETO Corp.
ACETO Corporation (NASDAQ: ACET), incorporated in 1947, is focused
on the global marketing, sale and distribution of Human Health
products (finished dosage form generics and nutraceutical
products), Pharmaceutical Ingredients (pharmaceutical intermediates
and active pharmaceutical ingredients) and Performance Chemicals
(specialty chemicals and agricultural protection products).
The Company employs approximately 180 people.
With business operations in nine countries, ACETO distributes over
1,100 chemical compounds used principally as finished products or
raw materials in the pharmaceutical, nutraceutical, agricultural,
coatings and industrial chemical industries. ACETO's global
operations, including a staff of 25 in China and 12 in India, are
distinctive in the industry and enable its worldwide sourcing and
regulatory capabilities.
Aceto Corporation and 8 affiliates sought Chapter 11 protection
(Bankr. D.N.J. Case No. 19-13448) on Feb. 19, 2019. ACETO
disclosed assets of $753,159,000 and liabilities of $702,848,000 as
of Dec. 31, 2018.
The Hon. Vincent F. Papalia is the case judge.
The Debtors tapped Lowenstein Sandler LLP as counsel; Simmons &
Simmons as foreign counsel; PJT Partners LP as investment banker
and financial advisor; AP Services LLC as restructuring advisor;
and Prime Clerk LLC as claims and noticing agent.
ACETO CORP: Posts $15.18 Million Net Loss at March 31
-----------------------------------------------------
Aceto Corporation, et al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for March 2019.
Aceto posted a net loss of $15.18 million at March 31 on $14.27
million of total sales.
As of March 31, 2019, Aceto listed $629.96 million in total assets,
$376.97 million in total liabilities, and $252.99 million in total
shareholders' equity.
The Debtors listed total cash receipts of $49.61 million and total
cash disbursements of $44.14 million for March.
A copy of the monthly operating report is available at the SEC at:
https://is.gd/72hpPZ
About ACETO Corp.
ACETO Corporation (NASDAQ: ACET), incorporated in 1947, is focused
on the global marketing, sale and distribution of Human Health
products (finished dosage form generics and nutraceutical
products), Pharmaceutical Ingredients (pharmaceutical intermediates
and active pharmaceutical ingredients) and Performance Chemicals
(specialty chemicals and agricultural protection products).
The Company employs approximately 180 people.
With business operations in nine countries, ACETO distributes over
1,100 chemical compounds used principally as finished products or
raw materials in the pharmaceutical, nutraceutical, agricultural,
coatings and industrial chemical industries. ACETO's global
operations, including a staff of 25 in China and 12 in India, are
distinctive in the industry and enable its worldwide sourcing and
regulatory capabilities.
Aceto Corporation and 8 affiliates sought Chapter 11 protection
(Bankr. D.N.J. Case No. 19-13448) on Feb. 19, 2019. ACETO
disclosed assets of $753,159,000 and liabilities of $702,848,000 as
of Dec. 31, 2018.
The Hon. Vincent F. Papalia is the case judge.
The Debtors tapped Lowenstein Sandler LLP as counsel; Simmons &
Simmons as foreign counsel; PJT Partners LP as investment banker
and financial advisor; AP Services LLC as restructuring advisor;
and Prime Clerk LLC as claims and noticing agent.
WINDSTREAM HOLDINGS: Lists $2.22 Billion Net Loss at March 31
-------------------------------------------------------------
Windstream Holdings, Inc., et al., filed with the U.S. Securities
and Exchange Commission their monthly operating report for February
25, 2019 through March 31, 2019.
The Debtors' statement of operations showed a net loss of $2.22
billion on $503.71 million in total revenues for the period.
The Debtor posted $10.86 billion in total assets, $12.05 billion in
total liabilities, and $1.19 million in total shareholders' deficit
as of March 31, 2019.
The Debtors listed total cash receipts of $2.03 billion and total
cash disbursements of $1.65 billion for the reporting period.
A copy of the monthly operating report is available at the SEC at:
https://is.gd/FQyQU2
About Windstream Holdings
Windstream Holdings, Inc. and its subsidiaries are providers of
advanced network communications and technology solutions for
businesses across the United States. They also offer broadband,
entertainment and security solutions to consumers and small
businesses primarily in rural areas in 18 states.
Windstream Holding Inc. and its subsidiaries filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 19-22312) on Feb. 25,
2019.
The Debtors had total assets of $13,126,435,000 and total debt of
$11,199,070,000 as of Jan. 31, 2019.
The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as counsel; PJT Partners LP as financial advisor
and investment banker; Alvarez & Marsal North America LLC as
restructuring advisor; and Kurtzman Carson Consultants as notice
and claims agent.
The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors on March 12, 2019. The committee tapped
Morrison & Foerster LLP as its legal counsel, AlixPartners, LLP as
its financial advisor, and Perella Weinberg Partners LP as
investment banker.
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts. The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
The Sunday TCR delivers securitization rating news from the week
then-ending.
TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.
Copyright 2019. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers. Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.
The TCR subscription rate is $975 for 6 months delivered via
e-mail. Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each. For subscription information, contact Peter A.
Chapman at 215-945-7000.
*** End of Transmission ***