Filing Alert: TimberHP Chapter 11
TimberHP Files Chapter 11 in District of Delaware
Go Lab, Inc. (dba TimberHP) and its debtor affiliate⁽¹⁾, a Madison, ME-based manufacturer of wood fiber insulation products for residential and commercial buildings, filed for Chapter 11 protection on Mar. 25 in the U.S. Bankruptcy Court for the District of Delaware.
The debtors have secured a $10 million DIP facility with UMB Bank as agent, subject to court approval. The filing follows entry into an RSA with key stakeholders, with a joint plan expected to be filed shortly.
The company reports $500 thousand to $1 million in assets and $10 million to $50 million in liabilities. The filing indicates that no funds will be available for distribution to unsecured creditors after administrative expenses are paid. The case number is 25-10557.
⁽¹⁾ Go Lab Madison, LLC.
Top Unsecured Claims
Key Parties
Counsel:
- Mark E. Felger
- Cozen O'Connor
- Email: mfelger@cozen.com
Special Counsel for Tax and Bond Matters:
- Nixon Peabody LLP
Special Counsel for Corporate Matters:
- Pierce Atwood LLP
Investment Bankers:
- Jefferies LLC
Accountants:
- Berry Dunn McNeil & Parker, LLC
Signatories:
- Matthew O'Malia – President and CEO
Claims Agent:
- Omni Agent Solutions
Equity Security Holders:
- Diversified Communications – 10% or more equity interest
- LF-VC, LLC – 10% or more equity interest
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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