April 11, 2014
A Delaware bankruptcy judge on Friday approved debtor-in-possession financing that private-equity owned mobile phone activator Simplexity LLC says is crucial to fund its planned $10 million stalking horse sale to Wal-Mart Stores Inc., despite objections from unsecured creditors that say the facility solely protects lender Fifth Third Bank.
April 08, 2014
Bankrupt private-equity owned mobile phone activator Simplexity LLC said Tuesday that it took issue with terms of debtor-in-possession financing extended by Fifth Third Bank, leaving in limbo how the debtor will fund its planned $10 million stalking horse sale to Wal-Mart Stores Inc.
April 04, 2014
A Delaware bankruptcy judge gave the green light Friday to private equity-owned mobile phone activator Simplexity LLC's plan to sell some of its assets in a Chapter 11 auction, with retail giant Wal-Mart Stores Inc. putting in a $10 million stalking horse bid.
April 03, 2014
Creditors of private-equity owned Simplexity LLC objected Wednesday to the bankrupt mobile-phone activator's planned $10 million asset sale to stalking horse Wal-Mart Stores Inc., saying the proposed bidding procedures will discourage other suitors.
March 26, 2014
Private equity-owned mobile phone activator Simplexity LLC asked the Delaware bankruptcy court late Tuesday to approve a plan to auction many of its assets, including intellectual property related to its e-commerce platform, with Wal-Mart Stores Inc. acting as stalking horse with a $10 million bid.
March 19, 2014
Troubled mobile-phone activator Simplexity LLC won approval from a Delaware bankruptcy judge Wednesday for up to $1 million debtor-in-possession financing, which the private equity-owned outfit will tap as it looks to ring up a speedy sale in Chapter 11.