Quanergy Systems, Inc. filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware on December 13, 2022. The debtor listed its assets of $27.55 million and liabilities of $27.66 million. The debtor is represented by Sean Matthew Beach and Shane M. Reil of Young Conaway Stargatt & Taylor, LLP and Cooley LLP as its legal counsels.

Lawrence Perkins of SierraConstellation Partners LLC is appointed as Chief Restructuring Officer. FTI Consulting is appointed as financial advisor and Raymond James Financial International, Ltd. as investment banker. Stretto is appointed as claims and noticing agent.