Boomerang Systems is seeking to sell all its assets
Boomerang Systems, Inc. (the “Company”) is an innovator on the frontline of automated parking systems with its robotic parking system, the trademarked “RoboticValet®.” The RoboticValet® is a low profile, omni-directional robot that carries vehicles parked on steel trays to and from the spaces by “driving” them on a concrete slab without the use of a rack, rail, or track. The entire parking transaction is automated. Boomerang’s solution is a disruptive, highly differentiated and defensible technology with numerous patents and proprietary trade secrets.
For further information, regarding the company please visit Boomerang System’s website at:
On August 18, 2015, Boomerang Systems filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (Case #15-11729). The company is seeking a sale of all its assets under section 363 of the Bankruptcy Code.
For further information regarding the bankruptcy please visit: http://www.gardencitygroup.com/cases-info/BMR/
Boomerang Systems Is seeking to sell substantially all its assets under section 363 of the Bankruptcy Code. The Company intends to enter into a stalking horse purchase agreement with its Debtor-In-Possession Lender, who will credit bid its debt (approx. $2.25 million). It is anticipated the Bankruptcy Court will approve certain sale procedures within the next month, which will set forth when and how bids may be submitted, deposit requirements, and auction procedures. Those procedures will be provided to interested parties as soon as available.
Gavin/Solmonese, LLC has been retained as the financial advisor to Official Committee of Unsecured Creditors and is overseeing the process to sell the assets of Boomerang Systems. To participate in this process or to obtain additional information, contact Gavin/Solmonese. No company personnel should be contacted directly. Please direct all inquiries to Gavin/Solmonese professionals:
(302) 655-8997, ext. 153