Assignee for the Benefits of Creditors
- Sale of Assets
- Wind Down Management
- Manufacturer of thermoplastic advanced composites
- Managed successful sale process
Fiberforge Corporation, a leader in the field of continuous fiber reinforced thermoplastic composites (a/k/a thermoplastic advanced composites), developed a breakthrough process technology to enable the low cost production of continuously reinforced thermoplastic advanced composites. The composite can be used for a broad range of applications that could be ramped up to commercial scale. The company offered this equipment, contract design, and technical support to its customers. While Fiberforge was able to enter into several Joint Development agreements, it was ultimately unable to attract additional equity investment. After multiple failed attempts to sell itself, Fiberforge executed an Assignment for the Benefit of Creditors, allowing DSI to effectuate a sale of the company in 2013. Through the sale, DSI contacted over 100 potential interested parties, ultimately leading to a robust auction sale. Given the advanced nature of the technology, DSI had to support and protect a significant amount of intellectual property and patents, both domestic and international.