Venator Materials PLC, along with its 23 affiliates filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas on May 14, 2023. The debtor listed both its assets and liabilities in the range of $1 billion to $10 billion. The debtor is represented by Victoria Nicole Argeroplos, Beau Butler, Matthew D Cavenaugh and Jennifer F Wertz of Jackson Walker LLP and Kirkland & Ellis LLP as its legal counsels.

The debtor also hired Alvarez & Marsal Europe Llp as its restructuring adviser and Moelis & Company LLC as its financial advisor. Epiq Bankruptcy Solutions, LLC as appointed as its notice and claims agent.