LRC served as lead 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”). Initially handled by Eduardo Saverin and Andrew Horiwitz and headquartered in Palo Alto with another office in London, Jumio is a leading international online and mobile identity management and credentials authentication company. Jumio’s products are utilized globally by a wide range of customers, including start-ups, leading internet companies and Fortune 500 and FTSE 350 organizations in the financial services, sharing economy, retail, travel, and online gaming industries. LRC advises 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. LRC also negotiated and drafted a plan term sheet with certain key constituents in the bankruptcy case and is in the process of transforming such term sheet into a plan of liquidation. LRC continues to negotiate with parties in interest with respect to such issues.
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