Two Trigeant parents back in court with Chapter 11 bankruptcy filings

By Caroline Salls

Pittsburgh, Aug. 27 – Trigeant, Ltd. holding companies Trigeant Holdings, Ltd. and Trigeant, LLC filed Chapter 11 bankruptcy on Monday in the U.S. Bankruptcy Court for the Southern District of Florida, just four months after the company’s previous bankruptcy case was dismissed.

Trigeant, Ltd.’s previous Chapter 11 bankruptcy case was dismissed in April with prejudice to the filing of a petition under any chapter of the Bankruptcy Code until the Fifth Circuit Court of Appeals issues a mandate in the case of BTB Refining, LLC v. PDVSA Petroleo, SA.

In January 2014, BTB asked the court to dismiss Trigeant's bankruptcy case, arguing that unrebutted evidence established that Trigeant’s estate was administratively insolvent.

In addition, BTB said Trigeant would not even have title to its refinery without a Texas court’s ruling that BTB’s foreclosure sale was a fraudulent transfer.

No other details of the case, including the reason for the latest filing, had been filed with the court as of Wednesday evening.

According to court documents filed Monday, Trigeant has $50 million to $100 million in both assets and debt.

No unsecured creditors were listed with claims of $1 million or more.

The company is represented by Jordi Guso.

Trigeant is a Boca Raton, Fla.-based petroleum company. The Chapter 11 case number is 14-29027.

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