Sonata US Subsidiary's Involuntary Bankruptcy Petition Dismissed

Date: 3rd July, 2026

Other Operational / Legal / Strategic Disclosures

Sonata Software Limited provides an update on legal proceedings involving its subsidiary, Sonata Software North America, Inc. (SSNA).

SSNA, as the petitioning creditor, had filed an Involuntary Petition under Chapter 7 of the United States Bankruptcy Code against OBSA Operating Company, LLC (OBSA), the debtor.

The United States Court has dismissed the Involuntary Petition as a sanction against OBSA. This dismissal was due to OBSA's failure to comply with Rule 1007(a)(2) of the United States Federal Rules of Bankruptcy Procedure.

Consequent to this dismissal, OBSA executed a separate general assignment for the benefit of its creditors (ABC) under California law. This assignment serves as a means of concluding the affairs of an insolvent debtor as an alternative to the Chapter 7 bankruptcy procedure.

This assignment for the benefit of creditors, which includes SSNA, is an out-of-court assignment.

The disclosure confirms that the proceedings do not involve litigation against key management personnel, promoters, or ultimate persons in control of Sonata Software Limited. There has been no settlement of the proceedings.