Alarm Co. Select Security Hits Ch. 7 With $93M In Debt

Law360 (June 16, 2021, 6:22 p.m. EDT) – Alarm firm Select Security filed for Chapter 7 liquidation in Delaware bankruptcy court with nearly $ 93 million in debt, six months later have sold substantially all of its assets to Brinks Home Security.

Pennsylvania-based Kourt Security Partners LLC – which operated as Select Security – filed for bankruptcy on Tuesday, claiming it had just over $ 3.6 million in assets left after it sold its alarm monitoring business late last year to reduce its secured debt.

According to the petition, Kourt – who installed and monitored home and business security systems – has just over $ 81.1 million in secured debt, …

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