Canadian artificial intelligence company 3MotionAI Inc. is seeking US bankruptcy court recognition of its Ontario insolvency case and aims to halt a competitor’s noncompete litigation in Delaware.
3MotionAI is looking to pause a suit brought by VelocityEHS Holdings Inc. as it prepares to sell its assets, according to a Chapter 15 petition filed on Thursday in the US Bankruptcy Court for the District of Delaware.
The request to recognize the foreign restructuring comes as the technology firm seeks protection of its US-based assets, including intellectual property, customer contracts, and accounts receivable.
3MotionAI develops AI technology that analyzes human motion from ...
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