Bankruptcy & Restructuring News & Analysis

OTB Holdings seeks bankruptcy court approval for a $305,000 retention plan covering 22 key non-insider employees during its Chapter 11 proceedings. The carefully structured program offers payments ranging from 3-20% of salary to preserve operational stability and maximize stakeholder value through the company's sale process and restructuring efforts

HVAC service provider Air Pros has filed for Chapter 11 bankruptcy protection in Georgia as it seeks to sell its business units across eight states. With over $250 million in secured debt and significant operational challenges following rapid expansion through acquisitions, the company is pursuing a break-up sale strategy after earlier attempts to sell the enterprise as a whole were unsuccessful. The filing includes DIP financing of $20 million to maintain operations while the sale process proceeds.