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

On April 13, 2015, an objection to 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 122 and is described on the court’s official docket as follows:

Objection Official Committee of Unsecured Creditors Objection to the Debtors Motion for Entry of Interim and Final Orders Pursuant to Sections 105, 361, 362, 363 and 364 of the Bankruptcy Code and Bankruptcy Rules 2002, 4001 and 9014: (I) Authorizing Postpetition Financing, (II) Granting Liens and Providing Superpriority Administrative Expense Priority, (III) Authorizing Use of Cash Collateral and Providing for Adequate Protection, (IV) Modifying the Automatic Stay, and (V) Scheduling a Final Hearing (related document(s)[11]) Filed by OFFICIAL COMMITTEE OF UNSECURED CREDITORS (Attachments: # (1) Exhibit A) (Luton Chapman, Jaime)

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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