TMX Funding Seeks Emergency Court Appointed Receiver to Manage Teledex, LLC Operations

  • Teledex LLC
  • 12.09.09
TMX Funding Inc. (TMX Funding), an affiliate of Scitec, Inc./TeleMatrix, Inc., will seek an emergency court appointed receiver to manage Teledex operations until the sale of the company’s assets on December 18th.

TMX Funding is seeking this appointment to secure its assets and to continue funding Teledex operations until the foreclosure date. The receiver could be appointed as early as December 9, 2009.
 
According to Teledex communications to its customers, Teledex Senior Management has decided to close its doors. TMX Funding was not advised, consulted or otherwise had any involvement regarding this decision. TMX Funding’s only involvement with Teledex is to finance Teledex Corporation. As of this writing, Teledex management never requested funding or otherwise contacted TMX Funding.
 
According to Jose Quiros, chief operating officer, Scitec, Inc./TeleMatrix, Inc., “We hope to succeed in the appointment of the receiver to avoid any further interruptions of the business. Furthermore, if we are successful in the December 18th bid for the company, we are committed to continuing the brand and the product lines. Until such time, we remain a financing entity solely involved as a lender in this transaction.”
 
TMX Funding announced on December 7 that it had acquired certain senior indebtedness issued by Teledex and certain of its corporate affiliates. The indebtedness is secured by substantially all of the assets of Teledex. TMX Funding has scheduled a non-judicial foreclosure sale against certain of these assets for December 18, 2009 at 1:30 p.m. (PST), at Buchalter Nemer, 333 Market Street, Suite 2500, San Francisco, CA 94105-2102.
 
For ongoing updates on this procedure, visit telematrix_news or scitec_news on Twitter, or the TeleMatrix news page at http://www.telematrix.net/telematrix-news/.

Scitec/TeleMatrix is a leading provider of analog, SIP, DECT SIP and Digital Centrex telephones with more than 7 million phones installed at over 30,000 customer sites worldwide. Headquartered in Colorado Springs, Colo., the company has qualified distributors in North America, Europe, Middle East, Africa, Asia/Pacific, South America and CALA.


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