New Delaware Chapter 11 Filing – Videology, Inc.
Videology, Inc., along with four of its affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11120). Videology, based in Baltimore, MA, is a software solutions provider in the TV and digital advertising industry. Videology’s Petition estimates it assets to be between $10–$50 million and its liabilities to be between $100-$500 million. According to the First Day Declaration, Videology enters Chapter 11 intending to sell substantially all of its assets under Section 363, with Amobee, Inc., a wholly owned subsidiary of Singapore Telecommunications Limited, serving as the stalking horse purchaser. Rust/Omni is the proposed claims and noticing agent. The case has been assigned to the Honorable Brendan Linehan Shannon.
Cole Schotz represents the debtors in these cases. For more information, please contact Irving Walker, G. David Dean or Patrick Reilly.
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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