REPUBLIC FIRST BANCORP, INC. Bankruptcy Filing
Case Number: 24-12991
REPUBLIC FIRST BANCORP, INC. filed a 11 chapter bankruptcy in the Eastern District of Pennsylvania bankruptcy court on August 27, 2024. This is a voluntary filing; it was assigned the bankruptcy case number #24-12991.
REPUBLIC FIRST BANCORP, INC. Filing Information
Republic First Bancorp, Inc., a Pennsylvania-based corporation, filed for Chapter 11 bankruptcy on August 27, 2024, with case number 24-12991. The company, which has been struggling financially, opted to restructure its debts under the protection of the federal bankruptcy code. As part of this process, Judge Ashley M. Chan will oversee the restructuring efforts, guiding the corporation through a complex and often contentious legal process. Located at 50 S. 16th Street, Suite 2400 in Philadelphia, PA, Republic First Bancorp, Inc.'s bankruptcy filing marks an important step for the company as it seeks to address its financial difficulties and emerge stronger. The Chapter 11 bankruptcy provides a framework for the corporation to reorganize its debts, create a more sustainable business model, and ultimately return to profitability.
REPUBLIC FIRST BANCORP, INC. indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors. This is a bad sign for creditors as it implies that no recovery is likely.
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REPUBLIC FIRST BANCORP, INC. Docket Header
PlnDue |
Eastern District of Pennsylvania (Philadelphia)
Bankruptcy Petition #: 24-12991-amc
Assigned to: Chief Judge Ashely M. Chan Chapter 11 Voluntary Asset |
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| Debtor Republic First Bancorp, Inc. 50 S. 16th Street Suite 2400 Philadelphia, PA 19102 PHILADELPHIA-PA Tax ID / EIN: 23-2486815 |
rep. by |
Albert Anthony Ciardi, III
Ciardi Ciardi & Astin 1905 Spruce Street Philadelphia, PA 19103 215-557-3550 Fax : 215-557-3551 Email: aciardi @ ciardilaw.com JENNIFER C. MCENTEE Ciardi, Ciardi & Astin 1905 Spruce Street Philadelphia, PA 19103 215-557-3550 Fax : 215-557-3551 Email: jcranston @ ciardilaw.com |
| U.S. Trustee United States Trustee Office of United States Trustee Robert N.C. Nix Federal Building 900 Market Street Suite 320 Philadelphia, PA 19107 (215)597-4411 |
rep. by | KACIE CARTWRIGHT
DOJ-Ust Robert N.C. Nix Federal Building 900 Market Street Suite 320 Philadelphia, PA 19107 202-631-5527 Email: kacie.cartwright @ usdoj.gov |