iLearningEngines, Inc.: going-concern / distress — iLearningEngines Bankruptcy Court Grants Orders to Continue Operations; Cash Collateral Use Until Jan 25, 2025

iLearningEngines, Inc.

On Jan 13, 2025, Bankruptcy Court approved orders allowing iLearningEngines to use cash collateral until Jan 25, 2025, subject to extension with prepetition secured parties.
Orders authorize payment of pre-petition employee obligations, continuation of benefit programs, and existing bank account usage.
Court approved retention of Stretto as claims and noticing agent, and maintenance of insurance coverage.
Supplemental order for joint administration of Chapter 11 cases and modification of equity security holder list requirements.
Company cautions that stockholders could experience significant or complete loss on their investment in the Chapter 11 case.

item 1.03 item 7.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

iLearningEngines, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware.

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware

Exact text from the filing

iLearningEngines, Inc. (the “Company”) and its affiliated entities iLearningEngines Holdings, Inc., iLearningEngines FZ-LLC and in2vate, LLC (collectively, the “Debtors”), have filed voluntary petitions (the “Chapter 11 Cases”) for relief under chapter 11 of title 11 of the United States Code

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Source: SEC EDGAR

accession 0001213900-25-004620

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