SaveSolar Corporation Inc.
23-00045
Bankr. D.C.Dec 15, 2024Background
- SaveSolar Corporation, Inc. and SaveSolar Alpha HoldCo, LLC (the "Debtors") filed for Chapter 11 bankruptcy and jointly administered their cases in the District of Columbia Bankruptcy Court as Case Nos. 23-00045-ELG and 23-00046-ELG.
- The Debtors filed a motion seeking to close their Chapter 11 cases pursuant to sections 105(a), 350, and 554(c) of the Bankruptcy Code, and Bankruptcy Rule 3022.
- The Court found it had proper jurisdiction and venue, and deemed the matter a core bankruptcy proceeding.
- Notice of the motion and hearing was provided with a reasonable opportunity for objections; all unresolved objections were overruled.
- The Court concluded closing the cases serves the best interests of the Debtors, their estates, creditors, and parties in interest. Specific provisions were made for remaining estate funds, outstanding litigation (the Moxie Litigation), and a notable class B Membership Interest.
- The order authorizes future administrative actions, permits reopening the case if necessary, and retains jurisdiction for future matters connected to the order’s implementation.
Issues
| Issue | Plaintiff's Argument | Defendant's Argument | Held |
|---|---|---|---|
| Whether to close the Chapter 11 cases | All case requirements are met; closure is warranted | (No substantive opposition in record) | Motion granted, cases closed per 11 U.S.C. § 350 |
| Distribution of residual estate funds | Funds can lawfully pay professional/admin expenses | (No substantive opposition in record) | Whiteford may disburse funds for proper purposes |
| Handling ongoing litigation (Moxie) | Counsel should be able to pursue/settle actions | (No substantive opposition in record) | Whiteford authorized to manage Moxie Litigation |
| Treatment of Class B Membership Interest | Should be retained for possible future action | (No substantive opposition in record) | Not abandoned; estate retains interest, stay lifted |
Key Cases Cited
No officially reported cases are cited in the opinion text provided.
