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Otto, holder of NYC Bin contract, is in involuntary bankruptcy
['Jacob Wallace', 'Senior Reporter']
Waste Dive - Latest News
The company won a contract in 2024 with the New York Department of Sanitation to manufacture the city's curbside NYC Bins.
A trustee has been appointed to oversee the company’s assets during bankruptcy proceedings.
On Friday, CEO Brian Coll filed a list of the company's creditors.
Hayes’ complaint noted creditors had filed proofs of claims totaling an additional $160,000 since the initial bankruptcy filing.
The trustee further expressed concern that assets could be sold or transferred to Mexico by Formex, the company Coll set up to receive Duramax’s assets.