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Nutroganics Chapter 7 Petition Filed

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Nutroganics (f/k/a NutraBev International Holdings and Microlog Delaware) and two affiliated Debtors filed for Chapter 7 protection with the U.S. Bankruptcy Court in the District of Delaware, case number 16-12271.

The Company, which acquires and grows revenue-generating businesses operating in the healthy lifestyle marketplace, is represented by Curtis A. Hehn of The Law Office of Curtis A. Hehn.

According to the Chapter 7 petition, “After any administrative expenses are paid, no funds will be available to unsecured creditors.” In February 2016, the Company announced that Mike Carnazzo, formerly C.O.O. of NuStar Manufacturing, had been terminated for cause. That release notes, “Nutroganics is investigating certain improper business relationships Mr. Carnazzo appears to have had with at least one customer and their impact on the Company’s business….The Company is also investigating certain other actions that Mr. Carnazzo took while he was employed by NuStar.”

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The post Nutroganics Chapter 7 Petition Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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