In re: JMO Wind Down Inc., Case No. 16-10682 (BLS)
LRC served as sole restructuring counsel to Jumio, Inc. (“Jumio”) in its chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). Jumio is a leading international online and mobile identity management and credentials authentication company. LRC advised Jumio in all aspects of its bankruptcy, including, through a comprehensive sale process which resulted in the sale of substantially all of its assets to an acquisition vehicle created by Centana Growth Partners. The sale was approved by the Bankruptcy Court on May 6, 2016 and closed on May 9, 2016. Following the closing of the Sale, LRC’s efforts were instrumental in convincing the senior secured lenders and current and former noteholders to negotiate a settlement that would provide payment of all claims and a distribution to equity in exchange for a release of potential claims. LRC negotiated a settlement that provided for (i) the payment of all claims in full (other than those claimants who agreed to waive or reduce their distribution) and (ii) a potential, meaningful distribution to equity – all of which was accomplished in an environment following the closing of the Sale when Jumio was administratively insolvent. The settlement was embodied in a plan of liquidation (the “Plan”), which was confirmed by the Bankruptcy Court on October 21, 2016. After the Plan went effective on October 26, 2016, LRC served as counsel to the liquidating trustee and assisted him in winding down the estate until the conclusion of its representation in April 2017.
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