Fox Rothschild LLP advised the Official Committee of Unsecured Creditors on the deal.
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.
The Fox team advising the Official Committee of Unsecured Creditors included Michael Sweet (Picture), Gordon Gouveia, Seth Niederman, Rob Glantz, Michael Herz, Elizabeth Viele, Jack Praetzellis, Diana McGraw, Stephanie Slater and Robin Solomon.
Involved fees earner: Diana Lyn Curtis McGraw – Fox Rothschild LLP; Robert Glantz – Fox Rothschild LLP; Gordon Gouveia – Fox Rothschild LLP; Seth Niederman – Fox Rothschild LLP; Jack Praetzellis – Fox Rothschild LLP; Stephanie Slater – Fox Rothschild LLP; Michael Sweet – Fox Rothschild LLP; Elizabeth Viele – Fox Rothschild LLP;
Law Firms: Fox Rothschild LLP;
Clients: MobiTV Inc.;