Construction equipment supplier Neff Rental Inc. and its affiliates have filed for Chapter 11 bankruptcy protection to wipe more than $400 million in debt from its balance sheet. The Miami-based firm filed in U.S. Bankruptcy Court in the Southern District of New York on May 16, listing assets between $100 million and $500 million and liabilities between $500 million and $1 billion. The court already has approved a $175-million debtor-in-possession financing plan. Rental Equipment Register ranked Neff last year as the 13th largest rental firm in North America, with sales of $225 million.
The former Soviet nation of Kazakhstan is ramping up completion of EXPO 2017—a futuristic megaproject estimated to cost between $3 and $5 billion that will showcase global energy efficiency and boost the host’s global profile
Cover photo by Neelam Mathews in Astana, Kazakhstan