Quibi’s Wind-Down Process

On October 21, 2020, Quibi Holdings, LLC, a streaming platform designed to deliver short-form content, announced that it was winding up its business in order to preserve as much value as possible for its equity holders. As a result, the company will cease to carry on business except to the extent beneficial for the winding down thereof and to preserve the liquidation value of the company’s assets. Cravath is representing Quibi and its Board of Directors in connection with its out-of-court wind-down process.

The Cravath team includes partner Paul H. Zumbro and associates Alexander Gerten and Jessica I. Choi on financial restructuring and reorganization matters; partner Faiza J. Saeed and associate P. Purun Cheong on corporate governance matters; and partner Lauren Angelilli and associates Richard Bohm and Duncan H. Hardell on tax matters.