Assignment For The Benefit Of Creditors California

Assignment For The Benefit Of Creditors California-3
Please be advised that on December 6, 2016, Pebble Industries, Inc. (collectively, the “Company” or “Pebble”) entered into an Assignment for the Benefit of Creditors (“Assignment”) and appointed Pebble Tech (assignment for the benefit of creditors), LLC as assignee (“Assignee”).An Assignment is a state level insolvency proceeding undertaken under state law, in this case California, with the primary governing law found in California Code of Civil Procedure sections 493.010 to 493.060, sections 1800 to 1802, and section 1204.

Please be advised that on December 6, 2016, Pebble Industries, Inc. (collectively, the “Company” or “Pebble”) entered into an Assignment for the Benefit of Creditors (“Assignment”) and appointed Pebble Tech (assignment for the benefit of creditors), LLC as assignee (“Assignee”).An Assignment is a state level insolvency proceeding undertaken under state law, in this case California, with the primary governing law found in California Code of Civil Procedure sections 493.010 to 493.060, sections 1800 to 1802, and section 1204.

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All other liabilities are “Retained Liabilities” of Pebble to be addressed through the Assignment process as described below and in the embedded links.

Under California law, creditors will be notified within 30 days of the Assignment by a written notice.

PLEASE READ THESE TERMS CAREFULLY AS USE OF THIS SITE CONSTITUTES ACCEPTANCE OF THESE TERMS AND CONDITIONS.

DISCLAIMER OF WARRANTY The services, information or data (collectively, “Information”) made available at the Proof of Claim Web site are provided “AS IS”, without warranties of any kind.

Shortly following the Assignment, also on December 6, 2016, the Assignee sold certain assets, including intellectual property related to software and firmware development (the “Acquired Assets”), to Fitbit, Inc.

(NYSE: FIT) (“Fitbit”), the leader of the connected health and fitness category.Parents whose children attend a preschool that has filed a Chapter 11 may find that their kids' favorite teachers or playmates have suddenly left and that there are not enough toys and art supplies. Although the bankruptcy sys- tem is designed to give a troubled business breathing room to reorganize while protected from aggressive creditors trying to seize its assets, bankruptcy is not the free ride that a failing franchisee may think it is.Once its bankruptcy case has commenced, the franchisee becomes a debtor9 under the Bankruptcy Code.This notice will outline the process by which creditors may file a proof of claim to establish a claim for any obligations due and includes a link to an automated claim filing site Tech; a copy of the notice is included on this web site for your information, and the deadline to file a claim is approximately 180 days (as required by law) from the date of the Assignment.For the Company, the Assignee continues to monetize any remaining assets and will compile all claims of creditors and distribute recoveries, if any, on a pro-rata basis to creditors based on each claim’s priority following the filing deadline.The Sponsor makes no warranty, representation or guaranty as to the content, sequence, accuracy, timeliness or completeness of the Information or that the Information may be relied upon for any reason or that the Information will be uninterrupted or error free or that any defects can be corrected.LIMITATION OF LIABILITY Under no circumstances shall the Sponsor be liable for any losses or damages whatsoever, whether in contract, tort or otherwise, from the use of, or reliance on, the Information, or from the use of the Internet generally.The Assignment entity is a California limited liability company, Pebble Tech (assignment for the benefit of creditors), LLC (“Assignee”).The Assignee is a special purpose entity established to liquidate the assets of the Company, compile claims, and distribute proceeds, if any, to creditors according to the priority established in the California Code.The debtor and its principals lose all sense of privacy about their business affairs because virtually everything in a bankruptcy is a matter of public record.Bankruptcy is a stressful, time-consuming process that takes management away from the day-to-day operations of the franchise for unproductive activities like court appearances, meetings with attorneys and creditors' committees, and preparation of special financial schedules and reports for the bankruptcy case. Lawyers and financial professionals assisting the debtor demand large retainers before the bankruptcy is filed.

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