In re Vyaire Medical — Statement of Financial Affairs (Vyaire Medical 205, Inc.)
- Date
- 2024-07-09
Summary
The Statement of Financial Affairs for Vyaire Medical 205, Inc., Case No. 24-11232, filed July 9, 2024 as Doc 201 in the jointly administered Chapter 11 cases of Vyaire Medical, Inc., et al., Case No. 24-11217 (BLS), in the U.S. Bankruptcy Court for the District of Delaware. The 37-page form answers "None" to its questions on gross revenue, non-business revenue, payments to creditors within 90 days before filing, insider transfers within 1 year, setoffs, legal actions, gifts, losses and closed financial accounts. In Part 13 it lists VYAIRE HOLDING COMPANY as the parent corporation of a consolidated tax group. The Part 14 declaration was executed on July 8, 2024 by Charles N. Braley, Chief Restructuring Officer.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 1 of 37
IN THE UNITED STATES BANKRUPTCY COURT FOR
THE DISTRICT OF DELAWARE
)
In re ) Chapter 11
)
VYAIRE MEDICAL, INC., et al. ) Case No. 24-11217 (BLS)
)
Debtors. ) (Jointly Administered)
)
STATEMENT OF FINANCIAL AFFAIRS FOR
Vyaire Medical 205, Inc.
CASE NO. 24-11232
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 2 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 1: Income
1. Gross Revenue from business
None.
Identify the Beginning and Ending Dates of the Debtor's Fiscal Year, Sources of Revenue Gross
which may be a Calendar Year (Check all that apply) Revenue
(Before
Deductions
and
Exclusions)
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 1: Income
2. Non-business revenue
Include all guarantors and co-obligors. In Column 2, identify the creditor to whom the debt is owed and each schedule on which the
creditor is listed. If the codebtor is liable on a debt to more than one creditor, list each creditor separately in Column 2.
None.
Description of Sources of Gross
Revenue Revenue
(Before
Deductions
and
Exclusions)
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 2: List Certain Transfers Made Before Filing for Bankruptcy
3. Certain payments or transfers to creditors within 90 days before filing this case
List payments or transfers — including expense reimbursements — to any creditor, other than regular employee compensation, within
90 days before filing this case unless the aggregate value of all property transferred to that creditor is less than $7,575. (This amount
may be adjusted on 4/01/25 and every 3 years after that with respect to cases filed on or after the date of adjustment.)
None.
Creditor's Name and Address Dates Total Amount Reasons for Payment or
or Value Transfer
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 2: List Certain Transfers Made Before Filing for Bankruptcy
4. Payments or other transfers of property made within 1 year before filing this case that benefited any insider
List payments or transfers, including expense reimbursements, made within 1 year before filing this case on debts owed to an insider or
guaranteed or cosigned by an insider unless the aggregate value of all property transferred to or for the benefit of the insider is less than
$7,575. (This amount may be adjusted on 4/01/25 and every 3 years after that with respect to cases filed on or after the date of
adjustment.) Do not include any payments listed in line 3. Insiders include officers, directors, and anyone in control of a corporate debtor
and their relatives; general partners of a partnership debtor and their relatives; affiliates of the debtor and insiders of such affiliates; and
any managing agent of the debtor. 11 U.S.C. § 101(31).
None.
Insider's Name and Address and Dates Amount Reasons for Payment
Relationship to Debtor
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 2: List Certain Transfers Made Before Filing for Bankruptcy
5. Repossessions, foreclosures, and returns
List all property of the debtor that was obtained by a creditor within 1 year before filing this case, including property repossessed by a
creditor, sold at a foreclosure sale, transferred by a deed in lieu of foreclosure, or returned to the seller. Do not include property listed in
line 6.
None.
Creditor's Name and Address Description of the property Date Value of Property
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 2: List Certain Transfers Made Before Filing for Bankruptcy
6. Setoffs
List any creditor, including a bank or financial institution, that within 90 days before filing this case set off or otherwise took anything from
an account of the debtor without permission or refused to make a payment at the debtor's direction from an account of the debtor
because the debtor owed a debt.
None.
Creditor's Name and Address Description of Action Date Action Account Amount
Creditor Took Taken Number
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 8 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 3: Legal Actions or Assignments
7. Legal actions, administrative proceedings, court actions, executions, attachments, or governmental audits
List the legal actions, proceedings, investigations, arbitrations, mediations, and audits by federal or state agencies in which the debtor
was involved in any capacity—within 1 year before filing this case.
None.
Caption of Suit and Case Nature of Proceeding Court or Agency and Address Status of Case
Number
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 3: Legal Actions or Assignments
8. Assignments and receivership
List any property in the hands of an assignee for the benefit of creditors during the 120 days before filing this case and any property in
the hands of a receiver, custodian, or other court-appointed officer within 1 year before filing this case.
None.
Custodian's Name and Court Name and Case Title and Date Description of Value
Address Address Number Property
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 4: Certain Gifts and Charitable Contributions
9. List all gifts or charitable contributions the debtor gave to a recipient within 2 years before filing this case unless the
aggregate value of the gifts to that recipient is less than $1,000
None.
Recipient's Name and Address Recipient's Description of the Gifts Dates Value
Relation to Debtor and Contributions Given
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 11 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 5: Certain Losses
10. All losses from fire, theft, or other casualty within 1 year before filing this case.
None.
Description of the property lost Amount of Payments Received for the Date of Loss Value of
and how the lost occurred Loss Property Lost
If you have received payments to cover the loss, for
example, from insurance, government compensation, or tort
liability, list the total received.
List unpaid claims on Official Form 106A/B (Schedule A/B:
Assets - Real and Personal Property).
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 12 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 6: Certain Payments or Transfers
11. Payments related to bankruptcy
List any payments of money or other transfers of property made by the debtor or person acting on behalf of the debtor within 1 year
before the filing of this case to another person or entity, including attorneys, that the debtor consulted about debt consolidation or
restructuring, seeking bankruptcy relief, or filing a bankruptcy case.
None.
Who was Paid or Who Email / Website Who Made If not Money, Dates Value
Received the the Payment, Describe any
Transfer? Address if not Debtor Property Transferred
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 13 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 6: Certain Payments or Transfers
12. Self-settled trusts of which the debtor is a beneficiary
List any payments or transfers of property made by the debtor or a person acting on behalf of the debtor within 10 years before the
filing of this case to a self-settled trust or similar device. Do not include transfers already listed on this statement.
None.
Name of Trust or Device Trustee Describe any Property Dates Transfers Total
Transfered Were Made Amount /
Value
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 6: Certain Payments or Transfers
13. Transfers not already listed on this statement
List any transfers of money or other property - by sale, trade, or any other means - made by the debtor or a person acting on behalf of
the debtor within 2 years before the filing of this case to another person, other than property transferred in the ordinary course of
business or financial affairs. Include both outright transfers and transfers made as security. Do not include gifts or transfers previously
listed on this statement.
None.
Name and Address of Transferee, Description of Property Date Transfer Total Amount
Relationship to Debtor was Made or Value
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 15 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 7: Previous Locations
14. Previous Addresses
List all previous addresses used by the debtor within 3 years before filing this case and the dates the addresses were used.
None.
Address Dates of Occupancy
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 8: Health Care Bankruptcies
15. Health Care bankruptcies
Is the debtor primarily engaged in offering services and facilities for:
- diagnosing or treating injury, deformity, or disease, or
- providing any surgical, psychiatric, drug treatment, or obstetric care?
None.
Facility Name and Address Nature of the Location Where If Debtor How are
Business Patient Records are Provides Records
Operation, Maintained (if Meals and Kept?
Including Type of Different from Housing,
Services the Debtor Facility Address). If Number of
Provides Electronic, Identify Patients in
any Service Debtor's Care
Provider
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 9: Personally Identifiable Information
16. Does the debtor collect and retain personally identifiable information of customers?
No
Yes. State the nature of the information collected and retained.
Does the debtor have a privacy policy about that information?
No
Yes
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 9: Personally Identifiable Information
17. Within 6 years before filing this case, have any employees of the debtor been participants in any ERISA, 401(k), 403(b), or
other pension or profit-sharing plan made available by the debtor as an employee benefit?
No. Go to Part 10.
Yes. Does the debtor serve as plan administrator?
No. Go to Part 10.
Yes
Describe: EIN:
Has the plan been terminated?
No
Yes
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 19 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 10: Certain Financial Accounts, Safe Deposit Boxes, and Storage Units
18. Closed financial accounts
Within 1 year before filing this case, were any financial accounts or instruments held in the debtor's name, or for the debtor's benefit,
closed, sold, moved, or transferred?
Include checking, savings, money market, or other financial accounts; certificates of deposit; and shares in banks, credit unions,
brokerage houses, cooperatives, associations, and other financial institutions.
None.
Financial Institution Name and Last 4 Digits Type of Account Date of Closing Last Balance
Address of Account
Number
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 10: Certain Financial Accounts, Safe Deposit Boxes, and Storage Units
19. Safe deposit boxes
List any safe deposit box or other depository for securities, cash, or other valuables the debtor now has or did have within 1 year
before filing this case.
None.
Depository Institution Name and Names of Anyone with Access Description of the Does Debtor
Address to it and Address Contents still have it?
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 10: Certain Financial Accounts, Safe Deposit Boxes, and Storage Units
20. Off-premises storage
List any property kept in storage units or warehouses within 1 year before filing this case. Do not include facilities that are in a part of a
building in which the debtor does business.
None.
Facility Name and Address Names of Address Description of the Does
Anyone with Contents Debtor still
Access to it have it?
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 22 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 11: Property the Debtor Holds or Controls That the Debtor Does Not Own
21. Property held for another
List any property that the debtor holds or controls that another entity owns. Include any property borrowed from, being stored for, or
held in trust. Do not list leased or rented property.
None.
Owner's Name and Address Location of the Property Description of the Value
Property
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 23 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 12: Details About Environmental Information
For the purpose of Part 12, the following definitions apply:
Environmental law means any statute or governmental regulation that concerns pollution, contamination, or hazardous material,
regardless of the medium affected (air, land, water, or any other medium)
Site means any location, facility, or property, including disposal sites, that the debtor now owns, operates, or utilizes or that the debtor
formerly owned, operated, or utilized.
Hazardous material means anything that an environmental law defines as hazardous or toxic, or describes as a pollutant, contaminant,
or a similarly harmful substance.
Report all notices, releases, and proceedings known, regardless of when they occurred.
22. Has the debtor been a party in any judicial or administrative proceeding under any environmental law? Include settlements
and orders.
None.
Case Title and Case Number Court or Agency Name and Nature of Proceeding Status
Address
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 24 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 12: Details About Environmental Information
For the purpose of Part 12, the following definitions apply:
Environmental law means any statute or governmental regulation that concerns pollution, contamination, or hazardous material,
regardless of the medium affected (air, land, water, or any other medium)
Site means any location, facility, or property, including disposal sites, that the debtor now owns, operates, or utilizes or that the debtor
formerly owned, operated, or utilized.
Hazardous material means anything that an environmental law defines as hazardous or toxic, or describes as a pollutant, contaminant,
or a similarly harmful substance.
Report all notices, releases, and proceedings known, regardless of when they occurred.
23. Has any governmental unit otherwise notified the debtor that the debtor may be liable under or in violation of an
environmental law?
None.
Site Name and Address Governmental Unit Name and Environmental Law, if Date of Notice
Address Known
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 25 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 12: Details About Environmental Information
For the purpose of Part 12, the following definitions apply:
Environmental law means any statute or governmental regulation that concerns pollution, contamination, or hazardous material,
regardless of the medium affected (air, land, water, or any other medium)
Site means any location, facility, or property, including disposal sites, that the debtor now owns, operates, or utilizes or that the debtor
formerly owned, operated, or utilized.
Hazardous material means anything that an environmental law defines as hazardous or toxic, or describes as a pollutant, contaminant,
or a similarly harmful substance.
Report all notices, releases, and proceedings known, regardless of when they occurred.
24. Has the debtor notified any governmental unit of any release of hazardous material?
None.
Site Name and Address Governmental Unit Name and Environmental Law, if Date of Notice
Address Known
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 26 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
25. Other businesses in which the debtor has or has had an interest
List any business for which the debtor was an owner, partner, member, or otherwise a person in control within 6 years before filing this
case. Include this information even if already listed in the Schedules.
None.
Business Name and Address Describe the Nature of the Employer Identification Dates
Business Number (Do not include Business
SSN or ITIN) Existed
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 27 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
26. Books, records, and financial statements
26a. List all accountants and bookkeepers who maintained the debtor's books and records within 2 years before filing this case.
None.
Name and Address Dates of Service
26a.1 CALEB MOORE 05/01/2021 - 02/01/2023
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
26a.2 DEBRA LAMB MICHAUD 02/01/2023 - 11/01/2023
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
26a.3 EDWARD MANLEY 03/01/2024 - ONGOING
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
26a.4 KIRA BROWN 11/01/2023 - 03/01/2024
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
26a.5 PHIL CUTTING 12/01/2021 - 05/01/2023
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
26a.6 VIKRAM BAJAJ 05/01/2023 - ONGOING
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 28 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
26. Books, records, and financial statements
26b. List all firms or individuals who have audited, compiled, or reviewed debtor's books of account and records or prepared a financial
statement within 2 years before filing this case.
None.
Name and Address Dates of Service
26b.1 ERNST & YOUNG US LLP - ONGOING
200 PLAZA DR, STE 2222
SECAUCUS, NJ 07094-3607
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
26. Books, records, and financial statements
26c. List all firms or individuals who were in possession of the debtor's books of account and records when this case is filed.
None.
Name and Address If any Books of Account and Records are
Unavailable, Explain Why
26c.1 EDWARD MANLEY
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
26c.2 VIKRAM BAJAJ
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 30 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
26. Books, records, and financial statements
26d. List all financial institutions, creditors, and other parties, including mercantile and trade agencies, to whom the debtor issued a financial
statement within 2 years before filing this case.
None.
Name and Address
26d.1 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
135 S. LASALLE STREET
IL4-135-09-61
CHICAGO, IL 60603-4157
26d.2 WILMINGTON TRUST, NATIONAL ASSOCIATION, AS COLLATERAL AGENT
50 SOUTH SIXTH STREET
SUITE 1290
MINNEAPOLIS, MN 55402
26d.3 WILMINGTON TRUST, NATIONAL ASSOCIATION, AS COLLATERAL AGENT
1100 NORTH MARKET STREET
WILMINGTON, DE 19890
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
27. Inventories
Have any inventories of the debtor's property been taken within 2 years before filing this case?
None.
Name of the Person who Name and Address of the Date of Dollar Basis
Supervised the Taking of Person who has Possession of Inventory Amount
the Inventory Inventory Records
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 32 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
28. List the debtor's officers, directors, managing members, general partners, members in control, controlling shareholders, or
other people in control of the debtor at the time of the filing of this case.
None.
Name and Address Position and Nature of any Interest Percent of Interest, if any
28.1 JUNE JOHNSON TREASURER
ADDRESS ON FILE
28.2 RACHEL LISENBY PRESIDENT AND SECRETARY
ADDRESS ON FILE
28.3 VIKRAM BAJAJ DIRECTOR, GROUP CFO
ADDRESS ON FILE
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 33 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
29. Within 1 year before the filing of this case, did the debtor have officers, directors, managing members, general partners,
members in control of the debtor, or shareholders in control of the debtor who no longer hold these positions?
None.
Name and Address Position and Nature of Interest Period During Which
Position Was Held
29.1 CALEB MOORE DIRECTOR AND OFFICER 09/30/2021 - 02/10/2023
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
29.2 DEBRA LAMB MICHAUD OFFICER 02/13/2023 - 11/28/2023
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
29.3 JOHN BIBB DIRECTOR AND OFFICER 09/30/2021 - 11/28/2023
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
29.4 PHILIP CUTTING DIRECTOR AND OFFICER 01/14/2022 - 05/24/2023
26125 N. RIVERWOODS BLVD.
METTAWA, IL 60045
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 34 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
30. Payments, Distributions, or Withdrawals Credited or Given to Insiders
Within 1 year before filing this case, did the debtor provide an insider with value in any form, including salary, other compensation,
draws, bonuses, loans, credits on loans, stock redemptions, and options exercised?
None.
Name and Address of Recipient and Amount Amount Dates Reason for
Relationship to Debtor Description Providing the Value
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 35 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
31. Within 6 years before filing this case, has the debtor been a member of any consolidated group for tax purposes?
None.
Name of Parent Corporation Employer Identification Number of the Parent
Corporation
31.1 VYAIRE HOLDING COMPANY 36-4835388
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Vyaire Medical 205, Inc. Case Number: 24-11232
Part 13: Details About the Debtor's Business or Connections to Any Business
32. Within 6 years before filing this case, has the debtor as an employer been responsible for contributing to a pension fund?
None.
Name of Pension Fund Employer Identification Number of the Parent
Corporation
Case 24-11217-BLS Doc 201 Filed 07/09/24 Page 37 of 37
Vyaire Medical 205, Inc. Case Number: 24-11232
Part 14: Signature and Declaration
WARNING -- Bankruptcy fraud is a serious crime. Making a false statement, concealing property, or obtaining money or property by
fraud in connection with a bankruptcy case can result in fines up to $500,000 or imprisonment for up to 20 years, or both. 18 U.S.C.
§§ 152, 1341, 1519, and 3571.
I have examined the information in this Statement of Financial Affairs and any attachments and have a reasonable belief that the
information is true and correct.
I declare under penalty of perjury that the foregoing is true and correct.
Executed on: 07/08/2024
Signature: /s/ Charles N. Braley Charles N. Braley, Chief Restructuring Officer
Name and Title
Are additional pages to the Statement of Financial Affairs for Non-Individuals Filing for Bankruptcy (Official Form 207) attached?
No
Yes
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