New Delaware Chapter 15 Filing- F.T.K. WorldWide Mfg BVBA

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F.T.K. Worldwide Mfg BVBA (a/k/a FTK Worldwide Manufacturing BVBA) has filed a voluntary petition under Chapter 15 in the Bankruptcy Court for the District of Delaware (Case No. 17-13024).  The petition comes days after the debtor and six of its affiliates appealed the Bankruptcy Court’s December 13, 2017 order dismissing their chapter 11 cases (Lead Case No. 17-12029).  According to the petition, the case was filed in support of insolvency proceedings before the Antwerp Commercial Court, The Public Prosecution v. F.T.K. Worldwide Mfg BVBA, Case No. A/17/08211.  The Debtor’s foreign representatives, Frans De Roy and Benny Goossens, were appointed as permanent trustees for the Debtor on December 21, 2017, and are also serving as foreign representatives for affiliate Exelco NV (Case No. 17-12409 (KG)), currently pending before the Bankruptcy Court for the District of Delaware.  The Debtor has filed a motion with the Bankruptcy Court to recognize the Antwerp proceedings as a foreign main proceeding.  Additional information about the debtor can be found in the declaration filed in support of the chapter 15 case.  The case has not yet been assigned to a judge.

Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter.  Please note, however, that Cole Schotz P.C. does not represent the debtor in this case and cannot respond to questions directed toward the debtor.

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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