Global Asset Rental files Chapter 11 bankruptcy, cites coronavirus

By Caroline Salls

Pittsburgh, July 24 – Global Asset Rental, LLC filed Chapter 11 bankruptcy on Thursday in the U.S. Bankruptcy Court for the Middle District of Florida.

The company’s Chapter 11 petition said it filed bankruptcy after a review of the operational and liquidity situation facing Global Asset, “due in large part to the recent worldwide coronavirus pandemic.”

According to court documents, Global Asset has $10 million to $50 million in assets and $50 million to $100 million in debt.

The company’s largest unsecured creditors are Blefa Kegs, Inc. of LaVergne, Tenn., with a $10.13 million claim; Schaefer Container Systems of Atlanta, with a $4.08 million settlement claim; Schafer – Sudex SRO of Ledec, Germany, with a $4.08 million settlement claim; Plasticos Tecnicos Mexicanos of Valle de Oro, Mexico, with a $3.1 million claim; Thielmann Portinox of Pulianas, Spain, with a $2.85 million settlement claim; and Supermonte Group Italy, Inc. of Leverano, Italy, with a $1.41 million claim.

Soneet R. Kapila has been appointed as chief restructuring officer. Genovese Joblove & Battista PA is representing the company in its Chapter 11 proceedings.

Global is an Orlando, Fla., beer industry asset rental and reverse logistics company. The Chapter 11 case number is 20-04126.

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