Intransa Wind Down Investigated

Author: Carlton Purvis, Published on Apr 23, 2013

While we have been reporting for more than a month about the failure of Intransa, there is still no official public announcement. Indeed, visitors to their website who did not know better, would simply assume that everything is just fine. However, we have obtained an internal document from Intransa's 'business advisor' and conducted an interview with them about how the company is being wound down and what is happening to its assets.

We have confirmed that Intransa, Inc., a Delaware company, i.e., the Intransa you know, has transferred all of its assets to a new California company named Intransa, LLC, for liquidation to pay off its debt (according to a letter mailed to creditors this month). The official name for what is happening is called an "Assignment for Benefit of Creditors," an alternative to bankruptcy. Intransa and Intransa, LLC have “no corporate affiliation ... despite their similarity in name,” according to the letter.

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