OGUSA Assignee, Inc. / Omnico Group USA, Inc.

Omnico Group USA, Inc. f/k/a Matra Systems, Inc.  (the “Assignor”) assigned all of its assets to OGUSA Assignee, Inc. (“Assignee”) to be administered for the benefit of the creditors of Assignor  The assets were assigned to the Assignee on June 24, 2022 pursuant to an Assignment for Benefit of Creditors (“ABC”) under Georgia law.

S. Gregory Hays serves as the President of the Assignee and is in the process of liquidating the remaining assets that were assigned by the Assignor. An ABC is a statutory out of court liquidation process. The assets of the company are assigned to a third party fiduciary that is responsible for liquidating the assets, recovering funds, and making a distribution to creditors. All assets are assigned through a Deed of Assignment (“Deed”), which is filed in county property records which transfers the assets from the Assignor to the Assignee. In connection with the Deed, the Assignor signed an affidavit stating under oath that the Deed transferred all assets and property to the Assignee.

The Assignee was appointed on June 27, 2022 and is moving quickly to liquidate assets and gain a detailed understanding of the assets and claims. It is early in the process and the Assignee is  uncertain what funds will be available after payment of administrative expenses to make payment to unsecured creditors.