New Chapter 11 Case Alert: Valence Technology, Inc. $VLNC

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In re Valence Technology, Inc.

United States Bankruptcy Court, Western District of Texas

Summary

Valence Technology, Inc., a developer and manufacturer of proprietary phosphate-based lithium ion batteries, voluntarily filed for bankruptcy protection in Texas. A copy of the petition is available from a link below, but here is a summary of some of the petition’s key details:

• Assets: $31.53 million

• Liabilities: $82.64 million

• Largest Equity Holders (as of March 31): Carl E. Berg, Berg & Berg Enterprises, LLC and West Coast Venture Capital, Inc. (44.4%); Clearbridge Advisors, LLC (5.5%)

Link to free copy of the chapter 11 petition: http://chapter11cases.com/details-of-valence-technologys-chapter-11-bankruptcy-petition-copy-of-petition-included/

Link to a list of the 20 largest unsecured creditors: http://chapter11cases.com/valence-technologys-20-largest-unsecured-creditors/

Link to free copy of a bankruptcy court declaration from the company’s President & CEO: http://chapter11cases.com/bankruptcy-pleading-of-the-day-declaration-of-president-ceo-in-support-of-valence-technologys-chapter-11-filing/

Visit the new Chapter11Cases.com

We’ve added access to numerous free resources, including the full text of thousands of court opinions, as well as the Bankruptcy Code, Bankruptcy Rules and much, much more

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Published In: Bankruptcy Updates, Energy & Utilities Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Randall Reese, Restructuring Concepts LLC | Attorney Advertising

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