Chapter 11 Filing Press Release
On November 14, 2022, Alfred Miller Contracting Company (“AMC”) filed for relief under Chapter 11 of the Bankruptcy Code, case number 22-20400, in the United States Bankruptcy Court for the Western District of Louisiana (the “Bankruptcy Court”). Through its Chapter 11 restructuring, AMC plans to negotiate the settlement of a force majeure claim for additional costs caused by the deterioration of the COVID-19 situation related to at least one contract and increase its financial stability for AMC’s future operations.
AMC anticipates sufficient liquidity to continue its operations and support its business in the ordinary course while it undergoes the financial restructuring process. AMC expects to move through the restructuring process as expeditiously as possible and is committed to pursuing a plan of reorganization by working closely with its creditors and other stakeholders. Further, the Chapter 11 process will provide AMC with the flexibility it needs to negotiate its COVID-19-related force majeure claim and strengthen its balance sheet.
AMC has filed various “first-day” motions with the Bankruptcy Court in support of its financial restructuring. AMC intends to continue paying employee wages and benefits without interruption in the ordinary course of its business. AMC expects to receive the Bankruptcy Court’s approval for the requests in its motions. AMC will continue to offer quality innovative and state-of-the-art contracting, fireproofing, specialty precast manufacturing, and field services for industrial and commercial construction projects throughout North America.
Stewart Robbins Brown & Altazan LLC is serving as AMC’s bankruptcy general counsel for these proceedings, while Watt, Tieder, Hoffar & Fitzgerald, L.L.P. serves as AMC’s special construction litigation counsel.
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this filing that address activities, events, or developments that AMC expects, believes, targets or anticipates will or any occur in the future are forward-looking statements. AMC’s actual results may differ materially from those anticipated in these forward-looking statements as a result of certain risks and other factors. AMC, therefore, cautions readers against relying on these forward-looking statements. All forward-looking statements attributable to AMC or persons acting on behalf of AMC are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and, except as required by law, AMC undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.