On June 29, 2015, the U.S. Bankruptcy Court in Los Angeles (Judge Julia Brand) entered a final decree closing Webalo, Inc.’s chapter 11 reorganization case. The order brought the case to a successful conclusion. Previously the court had confirmed Webalo’s plan of reorganization. The plan effectuated the necessary restructuring of approximately $30,000,000 of Webalo’s debt and equity interests and a recapitalization of Webalo.
The case was closed based on Webalo’s performance of all its obligations under the plan. SulmeyerKupetz represented Webalo as bankruptcy reorganization counsel and successfully guided Webalo smoothly through the chapter 11 process. Webalo’s proprietary technology transforms data and enterprise applications to make them compatible with mobile devices.