Arecont Vision Holdings, LLC, along with two affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11142). Arecont, based in Glendale, CA, is a developer and manufacturer of megapixel camera technology for security and surveillance use. According to the First Day Declaration, the Debtors have filed Chapter 11 intending to sell substantially all of their assets under Section 363 of the Bankruptcy Code, with Arecont Technologies LLC, an affiliate of Turnspire Capital, LLC, serving as stalking horse purchaser. The Debtors have also filed a motion seeking approval up to $4 million in DIP Financing. Rust/Omni is the proposed claims and noticing agent. The cases have been assigned to the Honorable Christopher S. Sontchi.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald 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.