Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11

Oryon Technologies Chapter 11 Petition Filed

Oryon Technologies filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Texas, case number 14-32293. The Company, which has developed multiple patents relating to electroluminescent lighting, is represented by Patricia B. Tomasco of Jackson Walker. According to the Company, this filing was prompted by several factors, including the following: (1) EFL Tech B.V., which purchased a majority of Oryon’s outstanding common stock, failed to make a payment of $250,000. (2) A lawsuit brought by M. Richard Marcus against Oryon and certain Company directors with respect to the EFL Tech transaction has consumed appreciable operating funds and management time, negatively impacting business activities. (3) The Marcus lawsuit, as well as a lawsuit brought by Myant Capital Partners, created a business environment in which it was not possible for the Company to attract additional investment funds. Oryon Technologies adds, “Oryon believes that its extensive electroluminescent (EL) patent portfolio, production-ready flexible lighting technology, wearable electronics market interest and customer support can create a healthy business under the reorganization protection of the Bankruptcy Court.”

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