New Delaware Chapter 11 Filing – Delivery Agent, Inc. et al.

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Delivery Agent, Inc., a provider of one of the leading and most advanced entertainment platforms to monetize entertainment content based in San Francisco, CA, and three of its affiliates have filed for chapter 11 bankruptcy protection before the United States Bankruptcy Court for the District of Delaware (Main Case No. 16-12051).  According to the debtors, a failed IPO and the acquisition of The Band, Inc., a media agency based in Denver, whose operations were subsequently discontinued, have, among other things, led to the debtors’ bankruptcy filings. The debtors indicate that they have entered into an asset purchase agreement with Hillair Capital Management LLC as the stalking horse bidder and the proposed debtor-in-possession lender and have filed motions seeking authority to sell their assets and obtain financing.

The petition (including the consolidated list of the top 30 creditors), the first day declaration and the docket are available through Epiq.

Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

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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