Fox Represents Committee of Unsecured Creditors in MobiTV Chapter 11 BankruptcyApril 23, 2021 – Press Releases
A Fox Rothschild team led by partners Michael Sweet and Gordon Gouveia has been retained as counsel to the Official Committee of Unsecured Creditors in the MobiTV, Inc. chapter 11 bankruptcy case pending in the United States Bankruptcy Court for the District of Delaware.
Founded in 2000, MobiTV is the first company to bring live and on-demand television to mobile devices and is a leader in application-based television and video delivery solutions. MobiTV asserts in its filings that despite growing revenue and increasing subscriber and customer bases, it incurred substantial operating losses in 2020 and its growth was materially impaired by COVID-19 and related stay-at-home orders.
MobiTV filed a voluntary petition on March 1, 2021 with a commitment for a $15.5 million debtor-in-possession financing facility from an affiliate of T-Mobile USA, Inc., one of MobiTV’s key customers. MobiTV is pursuing a going concern sale of its business pursuant to bidding procedures approved by the Bankruptcy Court on April 7, 2021.
In addition to Sweet and Gouveia, the Fox team includes Seth Niederman, Rob Glantz, Michael Herz, Elizabeth Viele, Jack Praetzellis, Diana McGraw, Stephanie Slater and Robin Solomon.