New Delaware Chapter 11 Filing – ScripsAmerica, Inc.

ScripsAmerica, Inc. (OTCBB: SCRC) has filed a chapter 11 petition before the United States Bankruptcy Court for the District of Delaware (Case No. 16-11991).  The case has been assigned to the Honorable Laurie Selber Silverstein.  The debtor is a provider of pharmaceutical supply chain management services headquartered in Clifton, New Jersey.  According to the debtor, the filing is in response to the cessation of its main business line and ongoing litigation in California.  The petition (including the list of top 20 creditors) and first day declaration are provided.

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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