Crane rental company Maxim Crane Works announced Nov. 10 a U.S. bankruptcy court has approved the disclosure statement in support of its reorganization plan. The company’s key stakeholders have approved the plan as well, and the United States Bankruptcy Court for the Western District of Pennsylvania has set a confirmation hearing for Dec. 30. Maxim Crane Works filed a bankruptcy petition June 14. Arthur Innamorato, chief executive of the company, said he is optimistic Maxim Crane will emerge from Chapter 11 early next year with a significantly de-leveraged capital structure, positive cash flow and a well-structured financing package.
Court approves Maxim Crane reorganization plan
Nov 22, 2004