Horsehead Holding Corp.
on Tuesday filed for Chapter 11 bankruptcy protection, a little more
than a month after the Pittsburgh-based manufacturer missed a $1.9
million payment and saw its stock plummet more than 90 percent.
Horsehead
(Nasdaq: ZINC) filed for Chapter 11 in the U.S. Bankruptcy Court for the
District of Delaware. It listed liabilities of $544.7 million and total
assets of $1 billion, according to a document filed with the court.
Its biggest unsecured claims are a $100 million unsecured convertible
note and a $400 million unsecured convertible note, both administered by
U.S. Bank National Association, according to a bankruptcy filing.
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