Keystone Tube Company, LLC and four affiliates, including A.M. Castle & Co. (OTC: CASL), HY-Alloy Steels Company, Keystone Service, Inc. and Total Plastics, Inc., have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 17-11330). The debtors are a specialty metals distribution company. According to the first day declaration, the filing appears to be attributable to the debtors being over-leveraged. The petition for Keystone Tube Company, LLC indicates $100-$500 million in both assets and liabilities. The debtors have filed both a plan and a disclosure statement and a motion seeking a combined hearing on both. According to the debtors, the proposed plan is supported by 100% in principal amount of the holders of their first lien secured claims, 92% in principal amount of second lien secured claims and 61% in principal amount of third lien claims. The debtors have also filed a motion to assume a restructuring support agreement and a motion to assume an exit facility commitment letter. The cases have been assigned to the Honorable Laure Selber Silverstein. The docket is available through KCC. The companies have issued a press release regarding their restructuring efforts.