MEMO ON THE RELATIONSHIP BETWEEN SOLARJUICE AND PETERSEN-DEAN
In June of 2020, after its business was negatively impacted by Covid-19 and the related lockdowns, Petersen-Dean, Inc., along with its affiliates/subsidiaries, including James Petersen Industries, Inc., Red Rose, PetersenDean Texas, and PetersenDean Roofing & Solar Systems (collectively “Petersen-Dean”) filed for protection under Chapter 11 of the US Bankruptcy Code.
In February of 2021, as part of the bankruptcy process, Solarjuice American, Inc. (“Solarjuice”) purchased certain assets of Petersen-Dean, including the Solar 4 America brand, vehicles and equipment, inventory, work-in-progress contracts and certain trademarks and copyrights, as well as selectively hired some former Petersen-Dean employees. Solarjuice did NOT assume Petersen-Dean liabilities except for very limited exceptions. Solarjuice provides its own roof/solar/battery and related installation services.
Following this sale of its assets, Petersen-Dean still remains in the Chapter 11 court process and will eventually be wound down/dissolved. As part of that process, a liquidating trust will be established that will be handling Petersen-Dean’s outstanding liability claims on a pro-rata basis.
If you have a claim against Petersen-Dean due to your business dealings with Petersen-Dean, that claim can be submitted to the liquidating trust for resolution. The liquidating trust has not yet been established but is expected to be created within the next 90 days. For additional information on the status of Petersen-Dean’s bankruptcy, including the forthcoming establishment of the liquidating trust, please see the below website which includes PetersenDean’s bankruptcy docket filings.