New Delaware Chapter 15 Filing – Axios Logistics Solutions, Inc.

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Axios Logistics Solutions Inc. and three of its affiliates have filed petitions for relief under Chapter 15 with the Bankruptcy Court for the District of Delaware (Case No. 17-10438-BLS).  According to the petition, the cases were filed in support of insolvency proceedings pending before the Ontario Superior Court of Justice, (Commercial List), In the Matter of the Receivership of Axios Mobile Assets Inc. et al., Court File Number CV-17-11710-00CL.  The Debtors’ foreign representative, A. Farber & Partners Inc., was appointed by the Ontario court as Receiver of the Debtors on February 24, 2017.  The Debtors have filed a motion with the Bankruptcy Court to recognize the Ontario proceedings as a foreign main proceeding.  The Debtors’ Corporate Ownership Statement can be found here.  The cases have been assigned to the Honorable Brendan Linehan Shannon.

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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