Legal Updates /

Delaware Bankruptcy Court Confirms Plan and Sale of Verengo, Inc.

On April 24, 2017, Chief Judge Brendan L. Shannon of the United States Bankruptcy Court for the District of Delaware entered an order approving the Second Amended Combined Disclosure Statement and Chapter 11 Plan of Reorganization for Verengo, Inc. (“Verengo”) Proposed by the Debtor and Debtor in Possession (the “Plan”), through which a sale of Verengo’s assets to Crius Solar Fulfillment, LLC was effectuated.  The Plan went effective on May 15, 2017.

Verengo, by and through its bankruptcy counsel, Bayard, P.A. (“Bayard”), filed a voluntary petition under Chapter 11 of the Bankruptcy Code on September 23, 2016.  The Debtor is a leader in the solar industry and one of the largest solar providers in Southern California.  Specifically, the Debtor’s business focuses on installing solar photovoltaic systems on existing homes and new construction projects.

Bayard attorneys Scott Cousins, Evan Miller, Erin Fay, GianClaudio Finizio, Marla Norton, and Greg Flasser served as counsel to Verengo throughout its bankruptcy case.  Bayard remains counsel to the post-effective Distribution Trust created under the Plan.

For confirmation order with plan, click here.

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