Bayard is serving as lead counsel to Ambient Corporation (“Ambient”) in its Chapter 11 case, filed on July 28, 2014 in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). Ambient filed for bankruptcy protection to facilitate a sale of its business operations to stalking horse purchaser, Ericsson Inc. (“Ericsson”), or a higher bidder, through a court approved sale process. The Bankruptcy Court has also authorized Ambient to borrow up to $2.5 million from Ericsson to pay for operating and bankruptcy expenses during the case. The sale process contemplates a closing during the 4th quarter of 2014. Bayard attorneys Charlene D. Davis and Justin Alberto are involved in the representation.
Ambient, headquartered in Newtown, Massachusetts, is a leading communications and applications platform supplier and servicer to utilities and infrastructure owners.