New Chapter 11 Filing - Think Finance LLC

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Think Finance LLC

  • 10/23/17 Recap: Here, Fort Worth Texas-based Think Finance LLC, "a leading provider of financial technology services" (think online consumer lending) alleges that Victory Park Capital Advisors LLC, through an affiliate, prevented said affiliate from paying tens of millions of dollars for services Think rendered. This sparked a cascade of horribles as the company then didn't have money to make payroll, had to lay people off, and then, in turn, incurred severance payables. Insert adversary proceeding between the company and Victory Park Capital here. It doesn't help that the company is the defendant in a variety of other lawsuits that it needs funding for. Indeed, the Wall Street Journal highlights that the company is the subject of a variety of "predatory lending" suits. Sounds like a dramatic bankruptcy. Popping popcorn.
  • Jurisdiction: S.D. of Texas (Judge Hale)
  • Company Professionals:
    • Legal: Hunton & Williams LLP (Gregory Hesse, Tyler Brown, Jason Harbour)
    • Financial Advisor: Alvarez & Marsal LLC
    • Claims Agent: American Legal Claims Services LLC
  • Other Parties in Interest:
    • Victory Park Capital Advisors LLC
      • Legal: Kirkland & Ellis LLP (Ryan Blaine Bennett, Justin Bernbrock)

Updated 10/26/17