New Delaware Chapter 11 Filing – Active Care, Inc.
Summary
Active Care, Inc., and its wholly-owned subsidiary 4G Biometrics, LLC, have filed petitions for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. The First Day Declaration further explains that Active Care enters Chapter 11 intending to sell substantially all of its assets under Section 363 of the Code with Telcare, LLC, serving as the stalking horse purchaser. Telcare is a subsidiary of Biotelemetry, Inc., Active Cares largest unsecured creditor and a key supplier. Active Care also enters Chapter 11 having secured $800,000 in DIP Financing from its pre-petition senior lender, Partners for Growth IV, L.P. A claims and noticing agent has not yet been proposed. The cases have been assigned to the Honorable Laurie Selber Silverstein.Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.