New Delaware Chapter 11 Filing – Lily Robotics, Inc.
Lily Robotics, Inc. filed a petition for relief under Chapter 11 (including a list of its top 29 creditors) in the Bankruptcy Court for the District of Delaware earlier this morning (Case No. 17-10426-KJC). Lily Robotics, based in San Francisco, CA, is a startup that has been developing a waterproof, autonomous, self-navigating flying drone capable of taking pictures and video (the “Lily Camera”). According to the First Day Declaration, Lily has suffered repeated setbacks as it has attempted to develop the Lily Camera and can no longer raise additional funding. Lily’s setbacks came to a head on January 11, 2017, when the District Attorney of San Francisco brought an action against Lily, asserting claims for Lily’s failure to deliver Lily Cameras to preorder customers. Lily will seek to liquidate its operations, refund customer deposits and attempt to sell its intellectual property assets through the Chapter 11 process. Prime Clerk, LLC is the proposed claims and noticing agent. The case has been assigned to the Honorable Kevin J. Carey.
Contact Norman L. Pernick and Nicholas J. Brannick for more information.
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