Ensequence, Inc., a New York, NY based provider of tools for creating interactive television advertising, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-10182). Ensequence’s Petition estimates it assets to be between $1–$10 million and its liabilities to be between $10–$50 million. According to the First Day Declaration, Ensequence has filed for Chapter 11 relief as a result of the unexpected termination of a major contract, after which Ensequence was no longer able to generate sufficient revenue to cover its capital costs. The Declaration further reports that Ensquence has entered into a forbearance agreement with its secured lender to allow the consensual use of cash collateral and intends to pursue a sale under Section 363 of the Code. Rust/Omni is the proposed claims and noticing agent. The case has been assigned to the Honorable Kevin Gross.
Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.