New Delaware Chapter 15 Bankruptcy Filing – Munro Media Ltd.
Munro Media Ltd., along with three subsidiaries, has filed a petition for recognition of a foreign proceeding under Chapter 15 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11365-KBO). According to the accompanying Declaration and exhibits thereto, the Debtors are advertising technology companies that offer online marketing expertise to their customers. Ernst & Young Inc. has been appointed as the Receiver of all of the Debtors’ assets by the Superior Court of Justice (Commercial List) in Ontario, Canada (Court File No.: CV-19-00617777-00CL). As Receiver, Ernst & Young is pursuing an orderly liquidation of the Debtors’ assets following declining revenues which the Debtors attribute to increasing scrutiny of the online advertising industry. The cases have been assigned to the Honorable Karen B. Owens, who was sworn in as Delaware’s newest bankruptcy judge on June 17, 2019.
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