Item 1.03 Bankruptcy or Receivership
On September 3, 2014, pursuant to an ex parte application by Hillair Capital Investments L.P, the Superior Court of the State of California, County of Los Angeles appointed David P. Stapleton (“Receiver”) as receiver to take possession, custody, and control of all of the assets of BOLDFACE Group, Inc., a Nevada corporation (the “Company”), subject to a hearing of an order to show cause scheduled for October 17, 2014.
The Receiver will have the usual and customary powers of a receiver to take control of and operate the Company’s business and property, including, in his sole discretion, operating the Company’s business as a going concern, operating the business for the purposes of facilitating a sale or liquidation of the Company’s property at any terms the Receiver deems reasonable under the circumstances, or shutting down and ceasing operations of all or a portion of the business of the Company.
The Company may file a response to the order to show cause no later than September 30, 2014. The Company may also file a response to the complaint no later than October 2, 2014.
