Mercantile Bancorp, Inc. Files For Chapter 11

• Debtor Name:  Mercantile Bancorp, Inc.
• Year Filed:  2013
• Jurisdiction:  United States Bankruptcy Court / District of Delaware
• Asset Size:  10,000,000 to 100,000,000
• Case Number:  13-11634
• Industry:  Financial Services

The Quincy, Illinois-based bank holding company is represented by DLA Piper LLP (US).

According to the Declaration, the Debtor has principal indebtedness of approximately $62 million and attributes the Chapter 11 filing to the "unprecedented deterioration of the financial markets in 2007 and 2008".

TMT USA Shipmanagement LLC Update: Objection

Today, Shanghai Commercial & Savings Bank objected to TMT USA Shipmanagement LLC's emergency motion to use cash collateral.  According to the document, Shanghai Commercial & Savings Bank urged denial because of a lack of or inadequate "equity cushion" in the vessels and the failure to show postpetition profitability, among other reasons.

Read two objections below:

Download Objection

Download Ojection 2

Update:  The Interim Order Authorizing Use of Cash Collateral was issued on 6/27/2013.

Exide Technologies Update: Initial Monthly Operating Report

Exide Technologies has filed their initial MOR with the United States Bankruptcy Court in Wilmington, DE

Download it below:

Download Exide Initial MOR

Exide Technologies Update: List of Equity Security Holders Filed

Today in the Exide Technologies Chapter 11, the List of Equity Security Holders was filed with the United States Bankruptcy Court in Wilmington, DE:

Fidelity Management & Research Company 9.33 percent as of 3.31.13; Tontine Asset Management, LLC 8.55 percent as of 3.31.13; BlackRock Institutional Trust Company, N.A. 6.10 percent as of 6.20.13 and The Vanguard Group, Inc. 5.09 percent as of 3.31.13.