Chicken Soup for the Soul Entertainment
The firm served as bankruptcy counsel to Chicken Soup for the Soul Entertainment and its debtor affiliates. The debtors were a premium content provider to value-conscious consumers and one of the largest advertising-supported video-on-demand (AVOD) companies in the U.S., with three flagship services (Redbox, Crackle and Chicken Soup for the Soul), in addition to operating Redbox Free Live TV and a network of 24,000 DVD rental kiosks across the U.S. With the firm’s assistance, the debtors endeavored towards a sequenced recapitalization plan for certain of the debtors’ businesses, orderly sales of some of the debtors’ businesses, settlement of the debtors’ debts, and potential pursuit of certain potential claims and actions. However, the cases were converted to liquidation proceedings because of the secured lenders’ unwillingness to further finance the chapter 11 cases. Thereafter, the firm was engaged by the chapter 7 trustee to pursue litigation.
