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    SOUPQ   US8361191070

SOUPMAN, INC.

(SOUPQ)
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WealthColony Management Provides Information to Shareholders of Soupman

06/30/2017 | 04:47pm EDT

On June 20, 2017, WealthColony Management Group, LLC filed a preliminary objection with the United States Bankruptcy Court for the District of Delaware to advise the Court that it objected to the Debtor-in-Possession (DIP) financing proposal made by Soupman, Inc. as a result of (i) the General Partner’s concerns about the existing management team of the Company, (ii) its view that alternate financing with better terms may be available, and (iii) its view that the proposed DIP financing is not fair, reasonable and adequate under Section 364 of the United States Bankruptcy Code because the interim DIP financing is not necessary for the operation of the Company and other debtors.


© S&P Capital IQ 2017
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Managers and Directors
Michael Wyse Chief Financial & Restructuring Officer
Daniel A. Rubano Senior VP-Operations & Franchise Development
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