Aerion Corp.; Aerion Supersonic, LLC Florida ABC The Aerion related companies were in the process of design of a supersonic business jet, development of aircraft systems to revolutionize high-speed flight and address many of the cost prohibitive aspects of supersonic flight. As a part of this work, Aerion has a significant amount of intellectual property […]
30 April, 2024
Optimus Ride, Inc. Delaware ABC The company was founded in 2015 and focused on the development of autonomous vehicles. The company had some initial success. In early 2021, the company sought to conduct a SPAC transaction and engaged an investment banker in the process. Unfortunately, this process was not successful and in mid-2021, the company […]
30 April, 2024
Dillon Fleet Services, et. al. Delaware ABC Dillon Fleet Services, along with its affiliated entities was a logistics company which provided dry and liquid bulk transportation services to the agriculture, building products, industrial, and energy industries across a nationwide network of terminals. Dillon primarily hauled raw material inputs for the manufacture of agricultural fertilizer, roofing […]
30 April, 2024
Teters Floral Products, Inc. Missouri ABC Teters executed a general assignment for the benefit of creditors pursuant to Missouri common law, in favor of DSI Assignments, LLC. Teters owed Bank of America approximately $800,000 on its revolving line of credit, which was secured by a lien on all of Teters assets. Bloom Finance Company, LLC […]
30 April, 2024
Coldwater Direct, LLC Coldwater Direct was the successor to the failed bankrupt Coldwater Creek women’s clothing stores and e-commerce business. The company, along with its related companies, executed assignments under Delaware law to accomplish the liquidation. A group of unsecured creditors were concerned that the assignment for the benefit of creditors was an attempt to […]
30 April, 2024
Bluefly, Inc. and Bluefly Holdings, Inc. DSI was hired to be the assignee for the benefit of creditors of this “E-Tailer,” selling women’s fashions across a broad spectrum of tastes. The secured creditor supported the assignment process as it had located a buyer for the assets pre-assignment. The Chancery Court required additional marketing of the […]
30 April, 2024
Assignee for the Benefit of Creditors The closure of the store and company ended the years of this once highly successful business. After liquidation of the remaining inventory and resolving claims arising from the sale of interests in the company, among others, creditors received a small recovery on their claims, including that of the landlord, […]
30 April, 2024
Assignee for the Benefit of Creditors Solstice Biologics was developing drugs aimed at small, cell permeable RNAi pro-drugs. The company located in San Diego, California received several rounds of funding, but was never able to reach revenue generation and the research and development activity was discontinued. DSI Assignments, LLC was name as the Assignee for […]
30 April, 2024
Assignee for the Benefit of Creditors DSI has acted as the assignee for the benefit of creditors of this San Diego, CA, based biotech firm. API developed software to analyze proteins and hundreds to thousands of biological features (pieces of proteins) through upgraded mass spectrometry. The API was initially funded by a private equity firm […]
30 April, 2024
Assignee for the Benefit of Creditors DSI was retained as the Assignee for the benefit of the creditors to assist with the wind down and liquidation of the business. In conjunction with the company secured lender Glitnir Holdco ehf out of Iceland the assets will be marketed and sold through private sales or auction. Within […]
30 April, 2024
Assignee for the Benefit of Creditors Guardian Metal Sales concentrated on selling non-ferrous strip and copper metals, primarily copper and metal alloys. In addition to the sale of the metal products, the company provided value-added services to its customers with the ability to fabricate to their specifications. In 2009, the economic downturn and lack of […]
30 April, 2024
Assignee for the Benefit of Creditors Fiberforge Corporation, a leader in the field of continuous fiber reinforced thermoplastic composites (a/k/a thermoplastic advanced composites), developed a breakthrough process technology to enable the low-cost production of continuously reinforced thermoplastic advanced composites. The composite can be used for a broad range of applications that could be ramped up […]
30 April, 2024
Assignee for the Benefit of Creditors Contessa Premium Foods, Inc., initiated a general assignment for the benefit of creditors in favor of Development Specialists, Inc., on April 30, 2014. On the date of assignment Contessa had secured loans outstanding of approximately $32.7 million and over $1.0 million in asserted Perishable Agricultural Commodities Act (“PACA”) trust […]
30 April, 2024
Assignee for the Benefit of Creditors Anki was a robotics and artificial intelligence startup that put robotics technology in products for kids. Anki programmed physical objects to be intelligent and adaptable in the physical world, and aimed to solve the problems of positioning, reasoning, and execution in artificial intelligence and robotics. DSI is serving as […]
30 April, 2024
F & F Foods, Inc., a leading manufacturer of branded and private-label cough drops, mints and candies, executed an Assignment for the Benefit of Creditors, allowing DSI to take over operations and effectuate a sale of the company. DSI managed the day-to-day operations of the business for approximately 1½ years while marketing the company for […]
30 April, 2024
Assignee for the Benefit of Creditors Forrest Financial, Inc. was engaged in the leasing of business equipment to small and medium sized companies. The equipment that Forrest leased included, but was not limited to, computers, copiers, credit card machines and store coolers. Forrest also packaged large groups of these leases and offered securitizations to investors. […]
30 April, 2024
Integro Building Systems of America, Inc. and related company Integro Building Systems USA, Inc. acted as sub-contractors to install curtain wall window systems on high rise buildings in large cities. The business involved installation of window products manufactured by a related company. The Integro companies had significant problems with certain jobs and fell behind due […]
30 April, 2024
Assignee for the Benefit of Creditors Company was at one time the largest independent drywall company in the State of California. Parent company, US Builder Services, and their lenders decided to wind down the business venture through an Assignment for the Benefit of the Creditors due to continued annual losses and union costs. DSI was […]
30 April, 2024
Assignee for the Benefit of Creditors Kingston Press ran a series of high-speed presses and serviced the publication of many national magazines. Kingston had three lines to manage the printing, slitting and binding of products for a variety of different applications. Kingston lost a major publishing contract and therefore became a factory with overcapacity. DSI […]
30 April, 2024
Assignee for the Benefit of Creditors The assignor was intended to be a social club for women and the landmark U.S. operation. A location was started in Los Angeles and a planned location in Washington, D.C. never was started. The business was affected by COVID-19’s impact on people’s ability to get together in large social […]
30 April, 2024
Assignee for the Benefit of Creditors The company made an assignment for the benefit of creditors to DSI as a result in the delay in release of Apple’s iPhone 7 series and when additional funding could not be obtained. There was substantial interest in the company’s patent portfolio and the assignee scheduled a public auction […]
30 April, 2024
DSI Assignments, LLC was the assignee for the benefit of creditors of this medical device start-up. Cohera patented TissuGlu®, a product to help healing from surgical procedures. When Cohera’s second product line failed to get FDA approval, the equity sponsor, which was also the secured creditor, elected to shut off funding and the company. While the company […]
30 April, 2024
Assignee for the Benefit of Creditors LifeHealth, LLC was a manufacturer of point-of-care (“POC”) diagnostic products that provided critical information to aid in the diagnosis, treatment and monitoring of illness and diseases. The company manufactured the IRMA TRUPOINT® Blood Analysis System. The company sought additional funding and sales opportunities, when those failed to materialize the […]
30 April, 2024
DSI presently serves are the Assignee for the Benefit of Creditors of CareSync, Inc. CareSync was a Delaware-based corporation in Tampa, Florida, that was a technology-enabled company that coordinated care for people with chronic diseases with over 130K registered users, 300+ employees, and over 200 accounts made up of 10,000 providers in 47 states. In […]
30 April, 2024
Marinello Schools of Beauty California ABC DSI accepted an assignment for the benefit of creditors of the nationwide chain of for-profit beauty schools. The assignor lost its U.S. Department of Education Title IV funding effectively cutting off the businesses funding source. DSI dealt with the claim of the USDOE arising from the department’s audit of […]
30 April, 2024
Assignee for the Benefit of Creditors DSI was hired to be the assignee for the benefit of creditors of what originally was a combine rental business and became an equipment sharing business, a startup designed to aid farmers with crop analysis for future planting and crop rotation. The company hired an investment banker to try […]
30 April, 2024
Assignee for the Benefit of Creditors DSI was hired to be the assignee for the benefit of creditors of a start up designed to aid farmers with crop analysis for future planting and crop rotation. The company did not meet expectations and the private equity sponsor chose to shut the business down. After marketing efforts […]
30 April, 2024
Assignee for the Benefit of Creditors The Autism Society of Illinois was a not-for-profit membership-based organization whose mission was to partner with families and communities living with Autism in Illinois by generating awareness and providing education, training, support and guidance as a compassionate and caring authority. As the organization tried to adapt it service model […]
30 April, 2024
Assignee for the Benefit of Creditors Accuworx was an industrial cleaning and environmental emergency remediation company with offices across the country. The company specialized in hazardous waste management and soil remediation services for emergency situations including wildfire-related services in California. DSI has been the Assignee for the benefit of creditors of the U.S. operations of […]
30 April, 2024