New Delaware Chapter 11 Filing – Fuhu, Inc.
Fuhu, Inc., developer of the nabi tablet for children, and Fubu Holdings, Inc. have filed chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware (lead case no. 15-12465). The cases have been assigned to Bankruptcy Judge Christopher S. Sontchi. The debtors have filed a motion to sell substantially all of their assets to Mattel and are seeking the approval of bidding procedures and other relief related to the sale. Links to the Fubu, Inc. petition, which includes the consolidated list of top 30 creditors, and the first day declaration are provided. The company has issued a press release describing their restructuring efforts.
Contact Norman L. Pernick or Nicholas J. Brannick for more information.
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