UMB Bank held a security interest on all of the assets of Zilkha Biomass Selma LLC, a manufacturer of black pellets for the biomass energy market that filed for bankruptcy. UMB held a security interest on all of the debtor’s assets to secure a $59.8 million bond issue by the debtor under a prepetition indenture of trust. The chapter 7 bankruptcy case involved the liquidation of the debtor’s assets.
Waller represented UMB Bank, National Association, in the bankruptcy of the manufacturer as the bank served as bond trustee. Waller also facilitated the hiring of an auctioneer for the chapter 7 trustee’s sale of the debtor’s assets as a going concern under section 363 of the Bankruptcy Code, thereby providing the bond trustee with a viable alternative to a foreclosure sale with potential environmental concerns.
Whether a current or prospective client, we are here to help your business thrive. Please send us a message and we will respond to your needs as soon as possible.Send us a message