Preferred Communication Systems, Inc. (“PCSI” or “Debtor”) filed for chapter 7 bankruptcy before the United States Bankruptcy Court for the District of Delaware on July 28, 2021.
This bankruptcy proceeding constitutes a rare example of a debtor listing more assets than debt. Per PCSI’s Schedules, the Debtor lists approximately $1.1 million in assets, and 607K in liabilities. The majority of PCSI’s assets are comprised of a 2014 federal tax refund in the approximate amount of 844K.
The Section 341 meeting for PCSI is scheduled for August 25, 2021 at 10:00 a.m. via phone. George L. Miller has been appointed as the Chapter 7 Trustee to the case.
Carl D. Neff is a partner with the law firm of FisherBroyles, LLP, and practices in Delaware. You can reach Carl at (302) 482-4244 or at Carl.Neff@FisherBroyles.com.