Morris Nichols Bankruptcy Alert - Cred Inc. and Certain of Its Affiliates File Chapter 11 Bankruptcy Cases in Delaware
On November 7, 2020, Cred Inc. and certain of its affiliates filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. As a courtesy to our clients and friends, the Morris Nichols Business Reorganization & Restructuring Group has summarized information related to the filings below.
Lead Case No. – 20-12836
Debtors – Cred Inc., Cred (US) LLC, Cred Merchant Solutions LLC, Cred Capital, Inc., and Cred (Puerto Rico) LLC
Description of Debtors – Nondepository Credit Intermediation
Website of Debtors (URL) – mycred.io
Assigned Judge – The Honorable John T. Dorsey
Proposed Counsel – The Debtors' proposed bankruptcy co-counsel are Cousins Law, LLC and Paul Hastings LLP.
Proposed Financial Advisor – MACCO Restructuring Group, LLC
First Day Hearing – A first day hearing was held on November 10, 2020, at 3:00 p.m.
Bankruptcy Documents –
Please do not hesitate to contact any member of the Morris Nichols Business Reorganization & Restructuring Group if we can be of assistance.