New Delaware Chapter 11 Filing – Malibu Lighting Corporation et al.
Malibu Lighting Corporation (Malibu), a manufacturer of outdoor lighting, and six affiliates, including Outdoor Direct Corporation (ODC) and National Consumer Outdoors Corporation (NCOC), have field chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (lead case 15-12080-KG). NCOC has filed a motion to sell substantially all of its assets pursuant to an Asset Purchase Agreement. Malibu and ODC are in the process of being liquidated, which will continue during the bankruptcy.
The lead petition and consolidated list of top 35 creditors and the first day declaration are available here and here, respectively. A motion has been filed to appoint Kurtzman Carson as the debtors’ claim agent.
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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