Crown Capital Holdings Embarks on Chapter 11 Restructuring for $200 Million Debt
Deal News | May 23, 2025 | White & Case LLP
Crown Capital Holdings LLC, represented by global law firm White & Case LLP, has initiated Chapter 11 bankruptcy proceedings in the US Bankruptcy Court for the District of New Jersey. This filing is part of a broader strategy to restructure over US$200 million in bond indebtedness. Crown Capital aims to secure financing that will support the rehabilitation of its affordable housing assets in Louisiana and Pennsylvania. Furthermore, the company plans to recapitalize its properties and establish a recovery mechanism for creditors to pursue claims against insiders and other parties. The White & Case legal team, led by Financial Restructuring and Insolvency Partner Gregory Pesce, comprises experts from various fields including real estate and litigation, spread across its Chicago, New York, and Miami offices.
Sectors
- Financial Restructuring
- Real Estate
- Legal Services
Geography
- United States – The Chapter 11 proceedings are taking place in the US Bankruptcy Court for the District of New Jersey, and the affordable housing assets are located in Louisiana and Pennsylvania.
Industry
- Financial Restructuring – The article discusses Crown Capital Holdings' Chapter 11 proceedings, a key component of financial restructuring.
- Real Estate – The restructuring aims to rehabilitate Crown Capital Holdings' affordable housing assets, indicating a focus on real estate.
- Legal Services – White & Case LLP is a prominent global law firm providing advisory services for the Chapter 11 restructuring.
Financials
- $200 million – The amount of bond indebtedness Crown Capital Holdings is restructuring during the Chapter 11 proceedings.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Crown Capital Holdings LLC | Target | Company | The company undergoing Chapter 11 restructuring to manage $200 million in bond debt. |
| White & Case LLP | Legal Advisor | Company | A global law firm advising Crown Capital Holdings throughout their Chapter 11 proceedings. |