Pashman Stein Walder Hayden P.C. Obtains Approval of First-Day Motions in Creativemass
Joseph C. Barsalona II, partner at Pashman Stein Walder Hayden P.C., was recently quoted in the Law360 article, “Fintech Creativemass Seeks Quick Liquidation In Ch. 11.” The article discusses the approval by the Delaware bankruptcy judge of a number of first day motions in the Subchapter V, Chapter 11 case of Creativemass, a wealth management app developer that is pursuing a prepackaged liquidation plan through which it would repay creditors in full and wind down.
During the first-day hearing, the debtor's counsel told U.S. Bankruptcy Judge Mary F. Walrath it would like to move noteholders' claims against its parent company — the bulk of Creativemass' liabilities — to a federal district court to be adjudicated there. "We have a finite amount of cash that continues to dwindle. The longer we stay in bankruptcy, the more claims will be impaired," attorney Joseph Barsalona said on behalf of the debtor.
In addition to Barsalona, the Pashman Stein team representing Creativemass Holdings and its US subsidiary, includes Michael J. Custer, and Alexis R. Gambale.
To read the full Law360 article, click here.
Pashman Stein is proud of the results it has achieved for clients, some of which are noted here. Of course, each legal matter is unique on many levels, and past successes are not a guarantee of results in any other pending or future matters.
