Judge orders involuntary liquidation of Aleph Objects’ successor firm

LOVELAND — A federal bankruptcy judge has cleared creditors to liquidate the successor company to former 3D printer maker Aleph Objects Inc. in an attempt to recover more than $1 million in debts.

In filings in the Bankruptcy Court of Colorado Tuesday, judge Cathleen Parker ordered the liquidation process to begin because Larimer Skyview Inc., Aleph’s successor, did not make a plea or other defensive motion against the creditor group’s claims.

Aleph was once one of the fastest-growing companies in Northern Colorado, employing more than 100 people in producing 3D printers. But in the span of weeks, the company laid off 90% of its staff and sold itself to a North Dakota manufacturer last fall.

SPONSORED CONTENT

How dispatchable resources enable the clean energy transition

Platte River must prepare for the retirement of 431 megawatts (MW) of dispatchable, coal-fired generation by the end of the decade and address more frequent extreme weather events that can bring dark calms (periods when there is no sun or wind).

The creditor group first filed suit in September, claiming Larimer Skyview owed $1.13 million in trade debts and unpaid invoices.

In most cases, a company files a Chapter 7 petition to liquidate and distribute the proceeds to its debtors. However, debtors can ask a bankruptcy court to liquidate a company that won’t do so by itself if the company meets certain benchmarks and generally isn’t paying debts that are not part of an ongoing legal dispute.

A U.S. bankruptcy trustee has been ordered to set a meeting for creditors within 40 days and ordered Larimer Skyview to file a list of assets and other documents within the next two weeks.

Larimer Skyview is also being sued by a Massachusetts software provider, which claims it is owed just less than $390,000 from an arbitration ruling last year. That lawsuit has not seen additional filings since the complaint in early September.

Jeff Moe, the former CEO of Aleph Objects, did not respond to a request for comment Tuesday afternoon.

© 2020 BizWest Media LLC