New Delaware Chapter 11 Filings – Filip Technologies, Inc.

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Filip Technologies, Inc., along with three of its subsidiaries, filed petitions for relief under chapter 11 of the Bankruptcy Court for the District of Delaware (Case No. 16-12192).  Filip Technologies produces a phone application, “FiLiP,” that allows parents to monitor their children’s whereabouts and phone usage and sells a watch-phone and various other accessories.  The case has been assigned to the Honorable Kevin Gross.  The Debtors’ petition and list of twenty largest creditors can be found here.  According to the board resolutions filed with the chapter 11 petition of Filip Technologies, Inc., the Debtors intend to seek DIP Financing from AT&T Capital Services, Inc. and will pursue a sale of their assets under 11 U.S.C. § 363.  A claims agent has not yet been appointed and the first day declaration is not yet available.

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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