Vertex Energy Inc.: going-concern / distress — Vertex Energy's Chapter 11 Plan confirmed; common stock to be canceled with no distribution

Vertex Energy Inc.

Bankruptcy Court confirmed Second Amended Joint Chapter 11 Plan on Dec 20, 2024.
Under the plan, all existing common shares (93,514,346 outstanding) will be canceled and equity holders receive no distribution.
Debtors reported ~$256.5M in assets and ~$419.9M in liabilities as of Nov 30, 2024.
Plan provides for DIP and term loan claims to receive new common stock; unsecured creditors get interests in a GUC Trust.
Effective date not set; reorganized debtors expect to no longer be subject to SEC reporting.

item 1.03 item 3.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Vertex Energy Inc. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas.

Proceeding: chapter 11
Court: United States Bankruptcy Court for the Southern District of Texas

Exact text from the filing

Court for the Southern District of Texas (the “ Bankruptcy Court ”). The Chapter 11 Cases are being jointly administered under the caption In re Vertex Energy, Inc., et al. , Case No. 24-90507 (CML).

View on SEC.gov

Browse all distress & bankruptcy →

Source: SEC EDGAR

accession 0001999371-24-015845

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.