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interTouch bankruptcy cases dismissed at request of Gate Worldwide
By Caroline Salls
Pittsburgh, Jan. 11 – interTouch Holdings LLC’s Chapter 11 bankruptcy cases were dismissed Thursday by the U.S. Bankruptcy Court for the District of Delaware.
Last month, litigation party and ownership interest buyer Gate Worldwide Holdings LLC asked the court to dismiss the cases, arguing that the interTouch debtors are two holding companies with no business operations and no prospect of reorganizing.
Gate Worldwide said interTouch filed bankruptcy just hours before the Supreme Court of the State of New York, County of New York was scheduled to enter a final order approving the sale of Topco’s 100% ownership interest in and control of interTouch to Gate.
“It is clear from the record that the debtors’ only reason for filing the bankruptcy petitions was to delay and frustrate GWH’s efforts to partially satisfy an over $50 million New York Court judgment through the acquisition of the Topco’s 100% interest in interTouch,” the motion said.
According to the motion, the company agreed to a New York Court-sanctioned sale process and public sale of interTouch. However, after Gate prevailed as the highest bidder, interTouch filed bankruptcy before the court could confirm the sale.
Gate said interTouch was trying to stay the sale and relitigate claims that have already been decided against it in the New York court.
The order bars interTouch from attempting to file another Chapter 11 petition for six months “without first obtaining leave from this court to file a new bankruptcy case on notice to Gate Worldwide.”
interTouch, a Westerville, Ohio-based hotel technology company, filed bankruptcy on Dec. 10. The Chapter 11 case number is 18-12772.
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