News

Looks Like Unpaid Vendors Will Get Nothing from Via International

Not a big surprise, but court-appointed receivers for the Via International bankruptcy probably won't be distributing any funds to unpaid vendors.


VIA's court-appointed receiver Cordes & Co. says it has no money left for vendors because proceeds from liquidated assets will go to the lender.
Julie Jacobson · November 17, 2015
If you liquidate all of Via International's assets, you won't get "anything close" to what the bankrupt company owes its secured creditor NBH Capital Finance, according to the court-appointed receiver Cordes & Company. The lender claims to be owed $7 million in principal, together with accrued interest, attorney fees and costs and other amounts provided under the parties’ loan documents.

Vendors were asked to email vendor.claims@viahome.com, and this is the response they are receiving:

Thank you for submitting your invoices, I've submitted them to the receivership estate. I've also attached a copy of the court order appointing Cordes & Company as Receiver of the assets of Via International for the purpose of liquidating the company. I'm not sure if you are aware, but Via has ceased all business operations.

As the Receiver has been liquidating the assets, it is becoming apparent that there will not be any funds available to satisfy any of the claims. The secured creditor, which hold a priority secured interest in all of Via's assets is not likely to receive anything close to what their loan balance is. If that should change, your invoices are submitted in the claims.

I'm sorry, I know this isn't the answer you were hoping for. If you should have any additional questions, please do not hesitate to let me know.

Thank you,

Cordes & Company Solely as Receiver of Via International Inc

Beverly Blank Associate

CE Pro is still trying to determine if clients are being reimbursed for downpayments towards products or services that were not provided. If you have information to share, kindly email .(JavaScript must be enabled to view this email address).

RELATED: VIA International 2.0: Contact Info for Receiver, Update on Operations Via International Ceases Operations: High-End Home Technology Group in Receivership - - - - - - - - - - - - - - - - JULIE JACOBSON image image image image


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  About the Author

Julie Jacobson is founding editor of CE Pro, the leading media brand for the home-technology channel. She has covered the smart-home industry since 1994, long before there was much of an Internet, let alone an Internet of things. Currently she studies, speaks, writes and rabble-rouses in the areas of home automation, security, networked A/V, wellness-related technology, biophilic design, and the business of home technology. Julie majored in Economics at the University of Michigan, spent a year abroad at Cambridge University, and earned an MBA from the University of Texas at Austin. She is a recipient of the annual CTA TechHome Leadership Award, and a CEDIA Fellows honoree. A washed-up Ultimate Frisbee player, Julie currently resides in San Antonio, Texas and sometimes St. Paul, Minn. Follow on Twitter: @juliejacobson Email Julie at julie.jacobson@emeraldexpo.com

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