CASE STUDIES: SOFTWARE FIRM CEASES

A U.S. based internet company specializing in search engine technology declared Chapter 7 Bankruptcy and ceased operations. The closing created many open issues, which the company needed help resolving. With the Bankruptcy Court's approval, the company's Board of Directors retained Liquid Technology as the Liquidation Receiver. As Receiver, we were charged with liquidating the physical assets and finding a buyer for the intellectual property. Liquid Technology provided a revenue estimate and liquidated the physical assets within a three-week time frame. During that same period, our recovery team sought and located several buyers interested in the Intellectual Properties, and completed a successful sale of those assets.