HouseCanary files for chapter 11 bankruptcy in New Jersey

HouseCanary and five affiliated companies have filed for chapter 11 bankruptcy protection, according to voluntary petitions filed on Tuesday in the U.S. Bankruptcy Court for the District of New Jersey. The five debtors include HouseCanary Inc., ComeHome Inc., HouseCanary R&D LLC, HouseCanary (CT) Inc., HouseCanary Certified Analytics Inc. and House Canary New Jersey Inc. The case is being jointly administered amongst the debtors. According to a legal filing, the bankruptcy cases start quickly after “efforts of a lender to foreclose upon one of the Debtors’ assets on an expedited basis.” HouseCanary did not disclose the identity of the lender or the asset in question in its filing. In a separate filing, the five debtors noted that they have more than $50 million in assets and at least $50 million in liabilities. What’s happening HouseCanary says chapter 11 protects its business as it pursues $175M+ from Rocket Close after a 2026 verdict. After completing 18 months of work for Amrock, HouseCanary claimed that Amrock refused to pay it for the work, and instead sued HouseCanary for breach of contract, claiming that the products it provided Amrock were “completely unusable.” HouseCa...