Riker Represents Transmar in Bankruptcy Filing
Riker Danzig is representing Transmar Commodity Group Ltd. in its Chapter 11 bankruptcy filing. The U.S. subsidiary of global cocoa trader Transmar Group, based in Morristown, New Jersey, supplies cocoa beans, powders, liquors and other specialty food items to the confectionary industry, including Hershey and Nestle. It seeks to reorganize more than $400 million in debt. Judge James Garrity of the U.S. Bankruptcy Court for the Southern District of New York ruled on January 4th in an expedited hearing that Transmar may use cash collateral to continue operations, with the hearing to continue on January 10th.
Riker Danzig partner Joseph Schwartz leads the bankruptcy team, with support by bankruptcy attorneys Tara Schellhorn and Rachel Gillen. Corporate partner Jason Navarino provides corporate advice to Transmar in connection with the bankruptcy. The Wall Street Journal and Law360 discuss the case in recent articles.