Waterlink lists $36.7 million assets against $51 million liabilities

By Carlise Newman

Chicago, June 30 - Waterlink Inc. listed its assets and liabilities in the Chapter 11 bankruptcy petition the company filed on Friday, and said its largest unsecured creditor is Douglas Dellmore, with $894,308 in claims.

As of March 31, Waterlink had $36,719,000 in assets and $51,081,000 in liabilities.

The next largest creditor is Norman Dupuis, with $894,308 in claims; followed by T. Scott King, with $500,000 in claims; CID Equity Capital V LLP, with $500,000 in claims; Mark Brody, with $362,083 in claims; and Charles Bolin, with $298,103 in claims.

As previously reported, Waterlink filed for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.

The company also announced that it is seeking a court order to obtain the use of cash collateral, which it expects will support current operations. The cash collateral will be comprised of the company's collections of existing receivables.

The Columbus, Ohio-based water purification company said it retained Focus Management Group to supervise and direct its reorganization efforts, including all capital transaction programs and activities.

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