New Delaware Chapter 11 Filing – Verengo, Inc.

Cole Schotz
Contact

Verengo, Inc., a well-known installer of residential solar power systems, filed for Ch. 11 in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12098).  Verengo attributes its filing to quality issues with its former operations in the eastern United States.  Despite selling its northeast operations to NRG Energy, Inc. and restructuring its remaining lines of business, Verengo is unable to service its current debts.  Verengo indicates that it will pursue a sale under 11 U.S.C. 363(c).  Crius Solar Fulfillment, the proposed DIP Lender, is also the proposed stalking horse.  The petition (including the consolidated list of top 20 creditors), the first day declaration and the docket are available through Upshot Services LLC.

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.

© Cole Schotz | Attorney Advertising

Written by:

Cole Schotz
Contact
more
less

Cole Schotz on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide