New Delaware Involuntary Chapter 11 Filing – Speed Vegas
Creditors have filed an involuntary petition for relief under Chapter 11 against Speed Vegas, a Las Vegas, Nev.-based recreational racetrack that serves as the home studio and track for the “Top Gear America” television series (Case No. 17-11752). The petitioning creditors are Phil Fiore, Velocita, LLC, Aaron Fessler, EME Driving, LLC, Thomas Garcia, Sloan-Speed, LLC and T-VV, LLC, each of who claims at least $5,529 due on Notes for which Stein Harris serves as the Collateral Agent. In the involuntary petition, the petitioning creditors allege that Speed Vegas is not paying its undisputed debts as they become due. No claims or noticing agent has been proposed. The case has been assigned to the Honorable Kevin J. Carey.
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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