Karmaloop, Inc. Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Obtain Debtor-In-Possession Financing

On March 25, 2015, an order regarding the motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Karmaloop, Inc. and its affiliates.

The filing was assigned docket number 47 and is described on the court’s official docket as follows:

Order (WITH REVISIONS) Authorizing Debtors to: (A) Use Cash Collateral on an Emergency Basis Pending a Final Hearing; (B) Incur Postpetition Debt on an Emergency Basis Pending a Final Hearing; and (C) Grant Adequate Protection and Provide Security and Other Relief to Comvest Capital II, L.P., as Agent, and the Lenders (Related Doc # [11]) Order Signed on 3/25/2015. (Attachments: # (1) Exhibit “A”) (LMD)

Karmaloop, Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on March 23, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 15-10635. The bankruptcy case is currently assigned to United States Bankruptcy Judge Kevin Carey. The law firm of Burns & Levinson LLP is acting as lead bankruptcy counsel to Karmaloop, Inc. in the bankruptcy case.


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