RNDC’s $1B in Debts Includes $47M in Equipment-Lease Claims

Republic National Distributing Co.’s Chapter 11 case, filed July 26, 2026 in the U.S. Bankruptcy Court for the Southern District of Texas, lists more than $1 billion in estimated liabilities that include claims from multiple equipment financiers.

Why it matters: Equipment lenders and lessors can rank ahead of general trade debt, so suppliers should confirm where their claim sits.

Which equipment financiers hold claims in RNDC’s Chapter 11?

RNDC’s bankruptcy petition names several financing companies among the creditors tied to the fleet and warehouse equipment that ran its 24-hour delivery network.

• First American Commercial Bancorp holds a $47.2 million unsecured claim for equipment leases, ranking it among RNDC’s largest listed creditors.
• RNDC’s chief restructuring officer, John Castellano, disclosed roughly $7 million in unpaid principal and interest owed to various banks and financing counterparties for equipment loans.
• An Aug. 20 master service list names Daimler as an equipment loan lender and lists an attorney representing Truist Equipment Finance, so the roster of financing companies in the case is still growing.

How does RNDC’s $540 million funded-debt stack break down?

The first-day declaration RNDC filed with the court breaks down exactly what it owed lenders on the petition date.

• RNDC reported $492.4 million in secured funded debt, led by a $260.4 million second lien facility, a $158.6 million asset-based and FILO revolver, and a $66.3 million delayed draw term loan.
• Equipment loans account for just $7 million of that secured total, dwarfed by the $47.7 million in unsecured owner notes held by the Block family.
• RNDC drew a $75 million new-money debtor-in-possession facility at filing, part of a DIP package that rolls up to roughly $250 million with prepetition secured debt. The lower a trade claim sits in that stack, the more of the loss a nonpayment policy is built to absorb.

What to do now

Suppliers waiting on RNDC receivables now compete with equipment lenders and banks for recovery, so the standard Chapter 11 recovery options for creditors apply here as much as anywhere.

1. Compare your invoice terms against RNDC’s secured debt stack, because a perfected lien typically recovers ahead of an unsecured trade claim in a wind-down like this one.
2. Read our full breakdown of RNDC’s Chapter 11 filing and creditor base for the wind-down terms behind this equipment-financing detail.
3. File your proof of claim through Omni Agent Solutions, the court-appointed claims agent for case 26-90737, and watch for amendments as filings like the Aug. 20 master service list add new names.
4. Contact Securitas Global Risk Solutions to confirm whether your policy covers this receivable, subject to credit limits, notification requirements, and policy terms in place at the time of the filing.

Disclaimer:
This blog post is meant to be informative and provide helpful tips and insights into credit insurance policies. It is not meant to supersede any policy requirements. Please consult your credit insurance policy for all requirements including claim filing deadlines and required documentation.

Since 2004, Securitas Global Risk Solutions, LLC has helped clients develop trade credit and political risk transfer solutions. As an independent brokerage, Securitas is focused on developing comprehensive solutions that meet client needs, ensuring a complete understanding of policy wording and delivering excellent responsive service. If you want to understand how trade credit insurance can protect your business, contact Securitas Global Risk Solutions to speak with a specialist.