Cultivated meat startup Believer Meats has filed an application with the Lod District Court in Israel to open insolvency proceedings and appoint a trustee to represent the interests of its creditors.
In its Dec 31 filing, three weeks after it announced it had ceased operations, Future Meat Technologies Ltd (doing business as Believer Meats) applied for an order to:
- open formal insolvency proceedings
- appoint a trustee to take control of the company
- stay proceedings against the company (freeze enforcement actions by creditors)
The document does not go into any detail about what went wrong, but contains some new information:
The initial estimated cost of establishing the firm’s North Carolina facility was…