01.07.2013

Ahern Rentals emerges

Ahern Rentals has now emerged from the Chapter 11 process after a long hard 18 month battle with its note holders.

The move, announced last week follows the agreement with the note holders and approval by the court on June 5th See Aherns Chapter 11 plan approved .
The announcement included a statement from chief executive Don Ahern, who along with brother Paul, managed to retain full ownership of the company against all the odds: “We thank our customers and our employees, suppliers and business partners, whose loyalty during this process has been instrumental in our continued financial success and our success in emerging from bankruptcy. We also want to thank our financial advisors, The Seaport Group and Oppenheimer & Co., for developing and helping us implement the plan that allowed us to successfully exit bankruptcy, and our legal counsel, Stoel Rives LLP, who have advised us on our financing issues since 2004 and Gordon Silver who served as our legal advisors.”