Quirky, committee, Comerica agree to mediation to resolve plan issues

By Caroline Salls

Pittsburgh, Feb. 26 – Quirky, Inc., its official committee of unsecured creditors and Comerica Bank agreed to appointment of a mediator to help the parties resolve issues related to the formation and confirmation of a Chapter 11 plan for Quirky’s bankruptcy case, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Quirky said the issues to be mediated include a potential challenge by the committee concerning the scope and extent of Comerica’s liens, the committee’s claim that the company’s estates should be substantively consolidated and the allocation of administrative expenses among Quirky’s creditors.

The parties are asking the court to appoint Allan R. Gropper as mediator for an initial period through March 24.

The company said a report would be filed within 10 days after the conclusion of the mediation stating only whether a settlement was reached, the date or dates the mediation took place and the names of the mediation parties and/or counsel who attended the sessions.

Quirky, a New York-based invention startup company, filed for bankruptcy on Sept. 22. The Chapter 11 case number is 15-12596.

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