Bankruptcy

American Synthol Files Chapter 11 In Northern District

By Scott Riddle

Lubricant manufacturer American Synthol filed a Chapter 11 petition in the Northern District of Georgia, Ch. 11 Case No. 08-80248.  Parker, Hudson, Rainer & Dobbs partner Rufus T. Dorsey IV and associate Tyronia Morrison represent the company, which makes lubricants under the Amerilube brand and private brands.

From the Deal Watch Blog, the filing was apparently due to a pay dispute.

Listed as American Synthol’s largest creditor is I.S.E.L. Inc. of Jacksonville, Fla., which is owed about $565,000, according to a court document. I.S.E.L. filed a suit against American Synthol in federal court in Florida last month, in a dispute over payments for lubricants that I.S.E.L. had manufactured for American Synthol.

Full post as published by Georgia Bankruptcy Blog on October 09, 2008 (boomark / email).