DSI'S Role
Assignee for the Benefit of Creditors
Services Provided
- Claims Analysis and Distribution
- Litigation of Pre-Assignment Breach of Contract
- Sale of Assets
PEARL AUTOMATION INC.
Case Highlights
- Generated higher than expected returns from the sale of assets
- Successfully prosecuted claims for creditor recovery
Case Narrative
Pearl Automation Inc. was a company building aftermarket automobile technology, focused on delivering “driver awareness features” and helping “speed up the pace” of technology adoption in cars.
DSI served as the Assignee for the benefit of the creditors to assist with the company wind down due to the lack sales and capital expenditures in new/future product launches.
DSI was successful in filing suit against a buyer of assets that was asserting offsets and resistance to pay due to the company shut down. A meaningful recovery was brought back into the estate for creditor distributions.