Fallbrook Technologies Inc., along with three affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10384).  According to the First Day Declaration, Fallbrook is a privately-held technological developer and manufacturer based in Cedar Park, Texas, best known for its Nuvinci Cycling product, a continuously variable transmission system for bicycles.  The First Day Declaration further explains that although Fallbrook does not enter Chapter 11 with a prepackaged plan, Fallbrook has filed in order to pursue a deleveraging, has entered into a Restructuring Support Agreement with certain of its largest creditors, has secured $8 million in DIP Financing from certain of its supporting creditors and intends to shortly file a plan of reorganization.  Fallbrook’s petition estimates its assets to be between $50–$100 million and its liabilities to be between $100–$500 million.  Epiq is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Mary F. Walrath.

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.