Karmaloop, Inc. Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Pay Claims Of Employees

On March 25, 2015, an order regarding the motion for authority to pay claims of employees was filed in the bankruptcy case of Karmaloop, Inc. and its affiliates.

The filing was assigned docket number 44 and is described on the court’s official docket as follows:

Order (I) Authorizing Payment of Certain Prepetition Employee Claims, Including Wages and Salaries, (II) Authorizing Payment of Certain Employee Benefits and Confirming Right to Continue Employee Benefits on Postpetition Basis, (III) Authorizing Payment of Reimbursement to Employees for Prepetition Expenses, (IV) Authorizing Payment of Withholding and Payroll-Related Taxes, (V) Authorizing Payment of Prepetition Claims Owing to Administrators and Third Party Providers, and (VI) Directing Banks to Honor Prepetition Checks and Fund Transfers for Authorized Payments. (related document(s)[8]) Order Signed on 3/25/2015. (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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