Announcement of Confirmation of Jaguar Distribution Corp.’s Chapter 11 Plan of Liquidation

Danning, Gill, Israel & Krasnoff, LLP (“Danning Gill”), is proud to have represented Jaguar Distribution Corp. (“Jaguar”) in its chapter 11 case, in which Jaguar successfully sold substantially all of its assets and confirmed a chapter 11 plan of liquidation.  Jaguar’s plan went effective on July 15, 2022.

Jaguar distributed independent and international films and television programs to airlines and cruise ship companies.  As an early innovator in the field, Jaguar succeeded in bringing independent and international films to domestic and foreign airline audiences.  For a variety of reasons, including the increased availability of streaming and download services such as Netflix and Amazon, and the proliferation of “minimum guarantees” that distribution companies often pay for the right to distribute films and television shows, Jaguar experienced a significant decline in revenues.

Jaguar retained Danning Gill as insolvency counsel in early 2019.  Around the same time, Jaguar also retained James Wong of Armory Consulting Company as Chief Restructuring Officer.  Danning Gill and Mr. Wong worked together to explore Jaguar’s options, including reorganization or liquidation under chapter 11 of the Bankruptcy Code.

Danning Gill filed Jaguar’s chapter 11 petition on July 31, 2020.  A few days later, Danning Gill filed Jaguar’s motion for approval of sale procedures in connection with a proposed sale of substantially all of Jaguar’s assets to Ricochet Digital Media, LLC (“Ricochet”).  In October 2020, after an auction, the Bankruptcy Court approved Jaguar’s sale of substantially all of its assets to Ricochet for $30,000 plus a percentage of receivables and future revenues collected by Ricochet.  The sale closed on November 2, 2020.

In February 2022, Danning Gill filed Jaguar’s chapter 11 plan of liquidation.  Under the plan, which was confirmed in June 2022, Jaguar’s remaining assets were assigned to a liquidating trust to be administered for the benefit of Jaguar’s creditors.  Jaguar’s plan went effective on July 15, 2022.  A few weeks later, the trustee of the liquidating trust filed three lawsuits to try to generate additional funds to pay holders of allowed claims.

Jaguar’s case is In re Jaguar Distribution Corp.  It was filed in the U.S. Bankruptcy Court for the Central District of California, Case No. 1:20-bk-11358-MB, and assigned to the Honorable Martin Barash.  John Tedford and Aaron de Leest of Danning Gill served as Jaguar’s general bankruptcy counsel.  James Wong of Armory Consulting Co. served as Jaguar’s Chief Restructuring Officer.  The official committee of unsecured creditors was represented by Victor Sahn and Steve Burnell of SulmeyerKupetz, now of Greenspoon Marder, LLP.  The trustee of the liquidating trust established by Jaguar’s plan is Elissa Miller of Greenspoon Marder, LLP.