Voluntary Petition for Non-Individuals Filing for Bankruptcy (Official Form 201) — No. 23-30687 (Dkt. 1, Bankr. N.D. Cal.)
Summary
Shift Technologies, Inc. filed this Chapter 11 voluntary petition on Official Form 201 in the United States Bankruptcy Court for the Northern District of California on 10/09/23, docketed as Case 23-30687, Doc# 1, five pages. The debtor describes itself as a corporation based in San Francisco with the website https://shift.com/ and marks the box for a debtor required to file periodic reports with the Securities and Exchange Commission under § 13 or 15(d) of the Securities Exchange Act of 1934; pending cases by affiliates are listed in Exhibit 1, and no prior bankruptcy cases in the last 8 years are reported. The form's own warning notes that bankruptcy fraud can bring fines up to $500,000 or imprisonment for up to 20 years. Jason Curtis, Chief Financial Officer, signed the declaration on 10/09/2023, and Thomas B. Rupp of Keller Benvenutti Kim LLP signed as attorney for the debtor.
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Full text
Fill in this information to identify the case:
United States Bankruptcy Court for the:
Northern
____________________ California
District of _________________
(State)
11
Case number (If known): _________________________ Chapter _____ Check if this is an
amended filing
Official Form 201
Voluntary Petition for Non-Individuals Filing for Bankruptcy 06/22
If more space is needed, attach a separate sheet to this form. On the top of any additional pages, write the debtor’s name and the case
number (if known). For more information, a separate document, Instructions for Bankruptcy Forms for Non-Individuals, is available.
1. Debtor’s name Shift Technologies, Inc.
______________________________________________________________________________________________________
2. All other names debtor used ______________________________________________________________________________________________________
in the last 8 years ______________________________________________________________________________________________________
______________________________________________________________________________________________________
Include any assumed names,
______________________________________________________________________________________________________
trade names, and doing business
as names ______________________________________________________________________________________________________
3. Debtor’s federal Employer 8 ___
___ 2 – ___
5 ___
3 ___
2 ___
5 ___
8 ___
5 ___
2
Identification Number (EIN)
4. Debtor’s address Principal place of business Mailing address, if different from principal place
of business
290 Division Street
______________________________________________ _______________________________________________
Number Street Number Street
Suite 400 _______________________________________________
______________________________________________
P.O. Box
San Francisco CA 94103
______________________________________________ _______________________________________________
City State ZIP Code City State ZIP Code
Location of principal assets, if different from
principal place of business
San Francisco
______________________________________________
County _______________________________________________
Number Street
_______________________________________________
_______________________________________________
City State ZIP Code
5. Debtor’s website (URL) https://shift.com/
____________________________________________________________________________________________________
Official Form 201
Case: 23-30687 Doc# Voluntary
1 Filed: Petition for Non-Individuals Filing for Bankruptcy
10/09/23 Entered: 10/09/23 16:02:17 page 1
Page 1 of 5
Shift Technologies, Inc.
Debtor _______________________________________________________ Case number (if known)_____________________________________
Name
6. Type of debtor Corporation (including Limited Liability Company (LLC) and Limited Liability Partnership (LLP))
x
Partnership (excluding LLP)
Other. Specify: __________________________________________________________________
A. Check one:
7. Describe debtor’s business
Health Care Business (as defined in 11 U.S.C. § 101(27A))
Single Asset Real Estate (as defined in 11 U.S.C. § 101(51B))
Railroad (as defined in 11 U.S.C. § 101(44))
Stockbroker (as defined in 11 U.S.C. § 101(53A))
Commodity Broker (as defined in 11 U.S.C. § 101(6))
Clearing Bank (as defined in 11 U.S.C. § 781(3))
None of the above
x
B. Check all that apply:
Tax-exempt entity (as described in 26 U.S.C. § 501)
Investment company, including hedge fund or pooled investment vehicle (as defined in 15 U.S.C.
§ 80a-3)
Investment advisor (as defined in 15 U.S.C. § 80b-2(a)(11))
C. NAICS (North American Industry Classification System) 4-digit code that best describes debtor. See
http://www.uscourts.gov/four-digit-national-association-naics-codes .
___ 4
4 1 ___
___ ___ 1
8. Under which chapter of the Check one:
Bankruptcy Code is the
debtor filing? Chapter 7
Chapter 9
x Chapter 11. Check all that apply:
A debtor who is a “small business
debtor” must check the first sub- The debtor is a small business debtor as defined in 11 U.S.C. § 101(51D), and its
box. A debtor as defined in aggregate noncontingent liquidated debts (excluding debts owed to insiders or
§ 1182(1) who elects to proceed affiliates) are less than $3,024,725. If this sub-box is selected, attach the most
under subchapter V of chapter 11 recent balance sheet, statement of operations, cash-flow statement, and federal
(whether or not the debtor is a income tax return or if any of these documents do not exist, follow the procedure in
“small business debtor”) must 11 U.S.C. § 1116(1)(B).
check the second sub-box. The debtor is a debtor as defined in 11 U.S.C. § 1182(1), its aggregate
noncontingent liquidated debts (excluding debts owed to insiders or affiliates) are
less than $7,500,000, and it chooses to proceed under Subchapter V of
Chapter 11. If this sub-box is selected, attach the most recent balance sheet,
statement of operations, cash-flow statement, and federal income tax return, or if
any of these documents do not exist, follow the procedure in 11 U.S.C.
§ 1116(1)(B).
A plan is being filed with this petition.
Acceptances of the plan were solicited prepetition from one or more classes of
creditors, in accordance with 11 U.S.C. § 1126(b).
The debtor is required to file periodic reports (for example, 10K and 10Q) with the
X
Securities and Exchange Commission according to § 13 or 15(d) of the Securities
Exchange Act of 1934. File the Attachment to Voluntary Petition for Non-Individuals Filing
for Bankruptcy under Chapter 11 (Official Form 201A) with this form.
The debtor is a shell company as defined in the Securities Exchange Act of 1934 Rule
12b-2.
Chapter 12
Official Form 201 page 2
Case: 23-30687 Doc# Voluntary
1 Filed: Petition for Non-Individuals Filing for Bankruptcy
10/09/23 Entered: 10/09/23 16:02:17 Page 2 of 5
Debtor
Shift Technologies, Inc.
_______________________________________________________ Case number (if known)_____________________________________
Name
9. Were prior bankruptcy cases No
x
filed by or against the debtor
within the last 8 years? Yes. District _______________________ When _______________ Case number _________________________
MM / DD / YYYY
If more than 2 cases, attach a
separate list. District _______________________ When _______________ Case number _________________________
MM / DD / YYYY
10. Are any bankruptcy cases No
pending or being filed by a
business partner or an Yes. Debtor See
x Exhibit 1
_____________________________________________ Relationship _________________________
affiliate of the debtor? District _____________________________________________ When __________________
List all cases. If more than 1, MM / DD / YYYY
attach a separate list. Case number, if known ________________________________
11. Why is the case filed in this Check all that apply:
district? X
Debtor has had its domicile, principal place of business, or principal assets in this district for 180 days
immediately preceding the date of this petition or for a longer part of such 180 days than in any other
district.
A bankruptcy case concerning debtor’s affiliate, general partner, or partnership is pending in this district.
X
12. Does the debtor own or have No
x
possession of any real Yes. Answer below for each property that needs immediate attention. Attach additional sheets if needed.
property or personal property
that needs immediate Why does the property need immediate attention? (Check all that apply.)
attention?
It poses or is alleged to pose a threat of imminent and identifiable hazard to public health or safety.
What is the hazard? _____________________________________________________________________
It needs to be physically secured or protected from the weather.
It includes perishable goods or assets that could quickly deteriorate or lose value without
attention (for example, livestock, seasonal goods, meat, dairy, produce, or securities-related
assets or other options).
Other _______________________________________________________________________________
Where is the property?_____________________________________________________________________
Number Street
____________________________________________________________________
_______________________________________ _______ ________________
City State ZIP Code
Is the property insured?
No
Yes. Insurance agency ____________________________________________________________________
Contact name ____________________________________________________________________
Phone ________________________________
Statistical and administrative information
Official Form 201 page 3
Case: 23-30687 Doc# Voluntary
1 Filed: Petition for Non-Individuals Filing for Bankruptcy
10/09/23 Entered: 10/09/23 16:02:17 Page 3 of 5
Shift Technologies, Inc.
Debtor _______________________________________________________ Case number (if known)_____________________________________
Name
13. Debtor’s estimation of Check one:
available funds Funds will be available for distribution to unsecured creditors.
X
After any administrative expenses are paid, no funds will be available for distribution to unsecured creditors.
1-49
X 1,000-5,000 25,001-50,000
14. Estimated number of
50-99 5,001-10,000 50,001-100,000
creditors
100-199 10,001-25,000 More than 100,000
200-999
X $0-$50,000 $1,000,001-$10 million $500,000,001-$1 billion
15. Estimated assets
$50,001-$100,000 $10,000,001-$50 million $1,000,000,001-$10 billion
$100,001-$500,000 $50,000,001-$100 million $10,000,000,001-$50 billion
$500,001-$1 million $100,000,001-$500 million More than $50 billion
$0-$50,000 $1,000,001-$10 million $500,000,001-$1 billion
16. Estimated liabilities
$50,001-$100,000 $10,000,001-$50 million $1,000,000,001-$10 billion
$100,001-$500,000 $50,000,001-$100 million $10,000,000,001-$50 billion
$500,001-$1 million $100,000,001-$500 million
X More than $50 billion
Request for Relief, Declaration, and Signatures
WARNING -- Bankruptcy fraud is a serious crime. Making a false statement 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.
17. Declaration and signature of The debtor requests relief in accordance with the chapter of title 11, United States Code, specified in this
authorized representative of
petition.
debtor
I have been authorized to file this petition on behalf of the debtor.
I have examined the information in this petition 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.
10/09/2023
Executed on _________________
MM / DD / YYYY
/s/ Jason Curtis
_____________________________________________
Jason Curtis
_______________________________________________
Signature of authorized representative of debtor Printed name
Chief Financial Officer
Title _________________________________________
Official Form 201 page 4
Case: 23-30687 Doc# Voluntary
1 Filed: Petition for Non-Individuals Filing for Bankruptcy
10/09/23 Entered: 10/09/23 16:02:17 Page 4 of 5
Debtor
Shift Technologies, Inc.
_______________________________________________________ Case number (if known)_____________________________________
Name
18. Signature of attorney
/s/ Thomas B. Rupp
_____________________________________________ Date 10/09/2023
_________________
Signature of attorney for debtor MM / DD / YYYY
Thomas B. Rupp
_________________________________________________________________________________________________
Printed name
Keller Benvenutti Kim LLP
_________________________________________________________________________________________________
Firm name
425 Market Street, 26th Floor
_________________________________________________________________________________________________
Number Street
San Francisco
____________________________________________________ CA
____________ 94105
______________________________
City State ZIP Code
(415) 496-6723
____________________________________ trupp@kbkllp.com
__________________________________________
Contact phone Email address
278041
______________________________________________________ CA
____________
Bar number State
Official Form 201 page 5
Case: 23-30687 Doc# Voluntary
1 Filed: Petition for Non-Individuals Filing for Bankruptcy
10/09/23 Entered: 10/09/23 16:02:17 Page 5 of 5
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