New Filing - DirectBuy Holdings Inc.

DirectBuy Holdings Inc.

  • 11/1/16 Recap: E-commerce provider of concierge-based virtual shopping experiences files for bankruptcy to achieve a balance sheet restructuring via sale of the business to proposed stalking horse bidder, Derby SPV Inc. 
  • Jurisdiction: D. of Delaware
  • Capital Structure: $145mm 12% PIK Toggle Notes, $10mm pre-exchange holdover notes.    
  • Company Professionals:
    • Legal: Cole Schotz (Michael Sirota, Norman Pernick, Felice Yudkin, Ilana Volkov, Marion Quirk, Nicholas Brannick)
    • Investment Banker: Carl Marks Advisory Group LLC (Charles Boguslaski, C. Scott Chabina, Jonathan Ladner, Parker Condie)
    • Claims Agent: Prime Clerk (*click on company name for docket)
  • Other Parties in Interest:
    • Unsecured Creditors' Committee
      • Legal: Saul Ewing LLP (Sharon Levine, Lucian Murley, Aaron Applebaum, Dipesh Patel, Monique DiSabatino)
      • Financial Advisor: Emerald Capital Advisors (John Madden)
    • Equityholders: Bayside Capital & PennantPark Investment Corporation
      • Legal: Weil (Brian Rosen, Debora Hoehne) & (local) Pepper Hamilton (David Stratton)

Updated 12/30/16.