Linqto Chapter 11 Case To Remain In Texas

HOUSTON, TX--(BUSINESS WIRE)--Linqto announced today that its voluntary Chapter 11 bankruptcy case will remain in the U.S. Bankruptcy Court in the Southern District of Texas. Judge Alfredo R. Perez rejected Interested Party Sapien Group USA, LLC’s motion to move venue to Delaware, stating that Linqto filing in Texas complied with U.S. Bankruptcy law.

“Today’s ruling is a win for Linqto’s customers and other creditors,” said Samuel Schwartz, lawyer for Linqto and partner at Schwartz PLLC. “Remaining in Texas will allow for an expedited recovery for creditors and be the most cost-effective approach."

Share

“Today’s ruling is a win for Linqto’s customers and other creditors,” said Samuel Schwartz, lawyer for Linqto and partner at Schwartz PLLC. “Remaining in Texas will allow for an expedited recovery for creditors and be the most cost-effective approach. We look forward to working with the unsecured creditors committee and all the stakeholders to develop a plan of reorganization and a successful exit from bankruptcy.”

Among the voices in support of the need to keep the case in Texas was the unsecured creditors committee which pointed to the significant work that had already been done in this case.

About Linqto

Linqto is a global investing platform designed to give accredited investors indirect access to investments in private companies and unicorns. Linqto’s platform has provided customers with access to a range of pre-IPO companies with an approximate value in excess of $500 million. For more details, visit www.linqto.com.

IMPORTANT LEGAL NOTICE AND DISCLOSURES: This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.