New Chapter 11 Filing – Security First Corp.

On August, 31, 2020, Security First Corp., a cyber security software developer based in Ladera Beach, CA, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 20-12053). The Debtor reports $1 million to $10 million in assets, $10 million to $50 million in liabilities, and estimated 50-99 creditors. The Debtor estimates that funds will be available for distribution to general unsecured creditors.  A copy of the company’s petition, board resolutions, and top 20 unsecured creditors can be found here.

Cole Schotz does not represent the Debtor in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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