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HouseCanary and affiliates file for Chapter 11 in New Jersey

The petitions, filed in the District of New Jersey, list more than $50 million in assets and at least $50 million in liabilities across six affiliated debtors.

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HousingWire reports that HouseCanary and five affiliated entities filed voluntary Chapter 11 petitions in the District of New Jersey, with the cases jointly administered among the debtors.

The filings cite an expedited foreclosure effort tied to a lender seeking to foreclose on one of the debtors assets, according to the court paperwork. HouseCanary did not disclose the lender or the specific asset in its filing, though Bloomberg identified Rocket.

In separate filings, the five debtors said they have more than $50 million in assets and at least $50 million in liabilities. HouseCanary also asked the bankruptcy court for additional time to submit detailed schedules of its assets, liabilities and financial affairs, noting the speed of the filing.

HousingWire adds that HouseCanary said its remaining workforce is focused on the restructuring process. HouseCanary did not immediately respond to HousingWire’s request for comment.

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