As debate over the legitimate of TelexFree as a source of income rages on, Court papers indicate that the company has recently filed for Bankruptcy in the United States.
“On April 13, 2014, each of the Debtors listed below filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”). The cases (collectively, the “Bankruptcy Cases”) are pending Joint Administration under Case No. 14-12524. The Bankruptcy Cases are pending before the United States Bankruptcy Court for the District of Nevada,” reads a statement published online.
“Pursuant to the Bankruptcy Code (specifically including, but not limited to, 11 U.S.C. § 362), a debtor is afforded certain protection against its creditors; the Bankruptcy Code prohibits creditors from taking certain actions related to debts that may have been owing prior to the commencement of the Bankruptcy Cases. If you believe that you might be a creditor of the Debtor(s) based upon debts arising prior to April 13, 2014, and you are considering taking action based upon your status as a creditor, you may wish to seek legal advice. The staff of the Clerk of the Bankruptcy Court and the staff of Kurtzman Carson Consultants LLC are not permitted to give legal advice,” the statement further reads.