Assignment For The Benefit Of Creditors California
Please note that Pebble is no longer promoting, manufacturing, or selling any devices, and that Pebble functionality or service quality may be reduced in the future.
Orders from no longer being accepted or fulfilled, including any pre-orders which have not yet been charged or shipped.
The debtor and its principals lose all sense of privacy about their business affairs because virtually everything in a bankruptcy is a matter of public record.
Bankruptcy is a stressful, time-consuming process that takes management away from the day-to-day operations of the franchise for unproductive activities like court appearances, meetings with attorneys and creditors' committees, and preparation of special financial schedules and reports for the bankruptcy case. Lawyers and financial professionals assisting the debtor demand large retainers before the bankruptcy is filed.
The Assignment entity is a California limited liability company, Pebble Tech (assignment for the benefit of creditors), LLC (“Assignee”).
The Assignee is a special purpose entity established to liquidate the assets of the Company, compile claims, and distribute proceeds, if any, to creditors according to the priority established in the California Code.
Pebble watches purchased at retail may be returned or exchanged based on the retailer’s return policy.
Other user-related information and information related to the Company’s sale of certain assets to Fitbit may be found via the Company’s blog post at blog.getpebble.com/2016/12/07/fitbit.
The Sponsor shall have no liability for: Any loss or injury caused, in whole or in part, by its actions, omissions, or negligence, or for contingencies beyond its control, in procuring, compiling, or delivering the Information; Any errors, omissions, or inaccuracies in the Information regardless of how caused, or delays or interruptions in delivery of the Information; or Any decision made or action taken or not taken in reliance upon the Information furnished hereunder.This notice will outline the process by which creditors may file a proof of claim to establish a claim for any obligations due and includes a link to an automated claim filing site Tech; a copy of the notice is included on this web site for your information, and the deadline to file a claim is approximately 180 days (as required by law) from the date of the Assignment.For the Company, the Assignee continues to monetize any remaining assets and will compile all claims of creditors and distribute recoveries, if any, on a pro-rata basis to creditors based on each claim’s priority following the filing deadline.Warranty support is no longer available for Pebble watches.How-to information and troubleshooting can still be found on the Company’s support website at help.and in the Pebble user forum at forums.In the short term, the franchisor usually experiences a delay in receiving post-petition royalties and advertising fees.1 In the long run, the franchisor may lose a valued location or see it transferred by the bankruptcy judge to an operator that the franchisor has not approved, despite an anti-assignment provision in the franchise agreement.2 Worse yet, the franchisor's brand may be damaged if the system's quality standards are not maintained during the bankruptcy or if the franchisee rejects the franchise agreement,3 de-brands, and continues operating as an independent in violation of its noncompetition covenants.Even a single franchisee bankruptcy can disrupt and demoralize the entire system, tempting other marginal operators to file based on the perceived success of one franchisee in publicly escaping its financial obligations. While the franchisee takes advantage of the Bankruptcy Code's generous window of opportunity to decide whether to assume or reject the lease,4 landlords are forced to sit on the sidelines, prevented from evicting the franchisee by the automatic stay.5 If the franchisee ultimately rejects the lease and gives up the location, the landlord will find its claim for future rent subject to a cap under the Bankruptcy Code.6 Suppliers are also hurt.Parents whose children attend a preschool that has filed a Chapter 11 may find that their kids' favorite teachers or playmates have suddenly left and that there are not enough toys and art supplies. Although the bankruptcy sys- tem is designed to give a troubled business breathing room to reorganize while protected from aggressive creditors trying to seize its assets, bankruptcy is not the free ride that a failing franchisee may think it is.Once its bankruptcy case has commenced, the franchisee becomes a debtor9 under the Bankruptcy Code.The Sponsor makes no warranty, representation or guaranty as to the content, sequence, accuracy, timeliness or completeness of the Information or that the Information may be relied upon for any reason or that the Information will be uninterrupted or error free or that any defects can be corrected.LIMITATION OF LIABILITY Under no circumstances shall the Sponsor be liable for any losses or damages whatsoever, whether in contract, tort or otherwise, from the use of, or reliance on, the Information, or from the use of the Internet generally.