B S rQnici3! Form S\/12107)

UNITED STATES BANKRUPTCY COURT INVOLUNTARY

District of Delaware PETITION

IN RE (Name of Debtor-If Individual: Last, First, Middle:) ALL OTHER NAMES used by tlebtor in the last 8 years (Include married, maiden, Md trade names~)

Allied Systems Holdings, Inc. Allied Holdings, Inc.

Last fourdigitsofSocia!·S~curity or other lmlividulll's-To.)C~l.D. No /Complete EIN {If more than one, .st8te all.): 58-0360550 STREET ADDRESS OF DEBTOR (No. and street, city, state. and zip code) MAILING ADDRESS OF DEBTOR {If different from $lr~t address)

2711 Centerville Road, Suite 400 2302 Parklake Drive, Building 15 Wilmington, Delaware 19808 Suite 600, Atlanta, GA 30345

COUNTY OF RESIDENCE OR PRINCIPAL PLACE OF BUSINESS New Castle

ZIP CODE ZIP CODE

19808 30345

LOCATION OF PRINCIPAL ASSETS OF BUSINESS DEBTOR (lfdi!Terent from previously listed addrmes}

CHAPTER OF BANKRUPTCY CODE UNDER WHICH PETITION IS FILED

r: Chapter 7 ';/ Chapter 11

INFORMATION REGARDING DEDTOR (Ch~ck appliublc boles)

N1tun ofDcbU T)'pe of Deblor Nature. ol Budneu (Check. onr bm.:.) (Form of0r8llni;mtion) (Check one bo.•:._)

0 Individual (Includes Joint Debmr) o Health Ca.rc: Busine:u Petitioners believe: r/ Corp~nation (Includes LLC and LLP) o Single Asset Real Estate as deli ned in

II U.S.C.jlOI(SIXB) 0 Debts are primnrily consumer debts o Partnership o Railroad

<I Debts are primarily business debts 0 Other (If debtor is 1101 one oft he abo\'e tnlhies, 0 Stockbroker check this box and stale type of entity below.) 0 Commodicy Broker

o Clearing Bank r/ Other

VENUE fiLING FEE (Check one box)

~Debtor hu been domiciled or has had a residence, principal r;f Full Filing Fee uttaehed place ofbusines.s. or principal nsscts- in the District for 180 days immediately precedlnglhe dale of this petition or for 0 Petitioner is a child support creditor or its rcpre5¢n\ativc, and the form elonger part of such lBO days I han in any other District s~ified In§ 304{g) of the Bankruptcy Reform Acl of 1994 is att.Bchcd.

{If a ~hlld supporr creditor or irs upresmtativt: is a petllfonrr. and if flu o A bankruptcy case col"'(:eming detrtor's affiliate, general p.:tlrlolltr files rhe form specified In§ J04(g) ofrbe BarrfuiJprcy Reform Act of

putner or pattn~rship is pending in lhis District. /9'}4, nafte is required.]

PENDING BANKRUPTCY CASE FILED BY OR AGAINST ANY PARTNER OR AF'FrLrATE OF THIS DEBTOR (Report t'nforn1a1ion for a~~-additional eases on auached sheets.)

Name ofDtbtor Case Number O.to

Relationship District Judge

ALLEGATIONS (Check a.ppllcablc- bow:u) COURT USE ONLY

I. rf_Petitioner(s) arc eligible to file this petition pursuanr to 11 U.S.C. § JOJ (b). 2. r(Thc debtor is a per5Cln against whom an order for relief may be entered under title 11 or the United

States Code.

'-' 9"'The debtor is generally not paying such debtor's debts as they become due, unless such deb!S are !he subject of a bona fide dispute as to liability or amount; .,

b. o Within 120 days preceding the tiling of this petition, a custodian, other !han a trustee receiver, or agent appoirued or authorized to take charsc or lcs~ than substantially all of the property of the debtor for lhe purpose of enforcing a lien against such property, was appotnted or took possession.

8 S (Official form 5)(12/01)- Pag~ 2 Name orDebtor Allied Systems Holdings, Inc.

Case No .. ___________ _

rY Check lhis box ifthere has been a transfer of any i

P~litiont!r(s) n:quest !hat an order for reli~fbe entered against the deblor under the chapter oftille II. United States Code, specified in this pelition. It' any petitioner is a tbreign representntivc appointed in a foreign proceeding, n certified copy of the order of the court granting recognilion is attached.

Pelition~:r(s) dt:clare under correct acwrding to the besl

of perjury that the fOregoing is tru.: and ' information. and belief.

Name & Mailing Address oflndividual Signing in Representative Co.pncity

Stephen H. Deckon: M'"iniili,:!il'rin Black. Diamond CLO By: Black Diamond CLO 2005·1 Adviser,

l:::frieSound Shore Dr1ve Sujre 200

Greenwich1 CT 06830

·:~~--~~--~~--~~~--~~----------­Signilture ofPe)itioncr or Repres.:nintivc (SIIl\1! till!!) Spectrum Investment Partners LP

Name ofPeliliOner

Nnme &. Mailing Address of Individual Signing in Representative Capacity

Date Signed Jeffrey A. SchulTer, Managing Member Spectrum rnveslment Partners LP By: Spectrum Group Management

1250 Broadway, 19th Floor

New York, NY 1000 I

Name llnd Address of Petitioner

BDCM Opportunity Fund II, LP

DE 19801

Bus. debt • loan default At Least $21.5 million

B 5 (Qffi~:;ia1 Form SJ (12107}- Pagt: 2 Name ofDebtor Allied Systems Holdings, Inc.

Case No. __________ _

TRANSFER OF CLAIM r/ Check this box ifthere has been a transfer of any claim against the debtor by or to any petitioner. Attach all documents that

evidence the transfer and a!_ly.statements that are_~~uired under Bankruptcy Rule I003(a). REQUEST FOR RELIEF

Petitioner(s) R:quest that an order for relief be entered against the debtor under the chapter of title I I. United States Code. specified in this petition. If any petitioner is a fOreign represen.totive oppoimed inn foreign proceeding, o certified copy of the order of the court granting recognition is attached.

Pelilioner(s) declare under penalty of perjury that the Ibregoing is true and correct according to the best of their knowledge, infonnation. and belief.

X X

Si~~:nature of Petitioner or Repn:sentative (State Iitie) BDCM Opportunity Fund ll. LP

Signature of Attorney. Date Landis Rath & Cobb LLP By Kerri K. Mumford (DE 4186)

Name or Pditioner O.ate Signed Name of Atlorn~ Firm gr 'feb Stephen H. Declcoff, Managing Principal 919 Market t., Su 1e 0 Wilmington, DE 19801

Name & Mailing BDCM Opportunity Fund II, LP Address Address of Individual By; BDCM Oppoituni~..FJlnd II, Advisert L.L.C. (302) 467-4400 Signing in Representative one ound Shore Dnve Telephone No. Capacity Suite 2QQ

Greenwich, CT 06830

X ' Signature ofPetitioqer or Representative (State lith:) Signature of Anorney Date Black Diamond CLO 2005-1 Ltd. Landis Rath & Cobb LLP

Nome of Petitioner DateS~ed Name ofAilorn~ Firm (lfnn~) Stephen H. Deckoff, Managing 'ncipal 919 Market t., Sutie 1 00 Wilmington, DE 19801

N arne & Mailing Black Diamond CLO 2005-1 Ltd. Address Address of Individual By: Black Diamond CLO 2005-1 Adviser, L.L.C. (302) 467-4400 Signing in Representative One Sound Shore Orsve Telephone No. Cnpacity SuU!;2QO

4/.4// / Greenwich, CT 06830

/

X 07/.J / X 10 J iA f///;_,,n d_i rfjoj./. si8natu~~:J,'f~~~~ ~~ntative (State title) SigGaYure Df Attorney 1 v ~{/ Oat~

Spectr I vestm Partners LP Landis Rath & Cobb LLP Name of Pctilioncr Date Signe4 Name of Attorn~ Firm Hf a"Bb

Jeffrey A. Schaffer, Managing Member 919 Market t., Su 1e 1 0 Wilmington, DE 19801 Name &Mailing Spectrum Investment Partners LP Address Address of Individual By: Spectrum Groue Mana~ement LLC (302) 467-4400 Signing in Representative !250 Broadway, 19th Floor Telephone No. Capacity

lilcw 'i' ork; N.Y 1000 I

PETITIONING CREDITORS Nwne anti Address of Petitioner Nature of Claim Amount of Claim

BDCM Opportunity Fund 11, LP Bus. debt - loan default At Least $26.8 million

Name and Address of Petitioner Nature of Claim Amount of Claim

Black Diamond CLO 2005-1 Ltd. Bus. debt -loan default At Least $4.5 million

Name and Address ofPetitionc:r Natun; of Claim Amount of Claim

Spectrum Investment Partners LP Bus. debt - loan default At Least $21.5 million Note: If there are mDre than three petitioners, attach additional sheets wilh the statem~nt under Total Amount of Petitionci'S''

penalty of perjury, each petitioner's signature under the statement and the name of attorney ant!__petitioning creditor information in the format above.

Cr•irns. At Least $52.8 million

u __ conlmuatlon sheets Btta~,;hed