Rhode Island Jail Operator Files Ch. 11 With $169M Debt
· WOWERI
A Rhode Island jail operator has filed for Chapter 11 protection with $169M in debt. The company has a contract to hold federal immigration detainees. The debt restructuring will help cut costs.
Rhode Island Jail Operator Files Ch. 11
A Rhode Island jail operator has filed for Chapter 11 protection with $169M in debt. The company has a contract to hold federal immigration detainees. The debt restructuring will help cut costs.
Contract to Hold Federal Immigration Detainees
The company has a contract to hold federal immigration detainees, which is one of the main sources of income. However, due to financial difficulties, the company was unable to fulfill its obligations.
Debt Restructuring
The debt restructuring will help the company cut costs and resolve issues with creditors. This will also allow the company to continue operating and fulfilling its obligations.
What to do next
- Appeal to Board of Immigration Appeals — Order
- Cancellation of Removal for Lawful Permanent Residents — Order
Not sure it fits? Consultation $150
Source: law360.com