SmileDirectClub, Inc.

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Case overview

Case Number:

4:23-bk-90786

Court:

Texas Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. November 14, 2023

    SmileDirectClub Investors Say Ch. 11 Releases Are Too Broad

    A group of investors with potential securities litigation claims against SmileDirectClub asked a Texas bankruptcy judge to reject the company's Chapter 11 plan disclosure statement, saying it lacks adequate information on claims releases they argue will "eviscerate" their suits.

  2. November 07, 2023

    SmileDirectClub Gets Final OK For First $20M Of DIP Loan

    SmileDirectClub got final approval from a Texas bankruptcy judge Tuesday to tap into $20 million in debtor-in-possession financing, but said it would wait a month to see if it needs to resolve objections to the collateral on its remaining $30 million in financing.

  3. November 06, 2023

    SmileDirectClub Says Invisalign Maker Wants It 'To Disappear'

    SmileDirectClub alleged that Invisalign maker Align Technology is objecting to final approval of the debtor-in-possession financing in SmileDirectClub's Chapter 11 case in Texas bankruptcy court as a continuation of Align's litigation campaign bent on destroying its competitor.

  4. November 03, 2023

    SmileDirect Creditors Want $55M DIP Delayed For Exec Probe

    Unsecured creditors in SmileDirectClub's Chapter 11 case urged a Texas bankruptcy judge to postpone the final hearing on a $55 million debtor-in-possession funding package, saying the terms of the loan would impede their "appropriate and necessary" investigation into potential wrongdoing by company insiders.   

  5. October 13, 2023

    SmileDirect Urges $5.25M Sale Of Corporate Jet In Ch. 11

    Mail-order dental service company SmileDirectClub has asked a Texas bankruptcy judge to quickly approve a $5.25 million sale of its corporate jet, saying the company no longer needed it after shifting to a work-from-home model during the COVID-19 pandemic.

  6. October 02, 2023

    SmileDirectClub Gets $30M Ch. 11 Loan Package

    Bankrupt dental treatment service SmileDirectClub Inc. received approval from a Texas judge Monday to borrow $30 million under a Chapter 11 lending package to help fund its search for a buyer after filing for bankruptcy late Friday with more than $1 billion in debt.