Home » Court Filing: Bang Energy Creditors Include Monster, PepsiCo, KDP, 7-Eleven, Target, Various Suppliers
Court Filing: Bang Energy Creditors Include Monster, PepsiCo, KDP, 7-Eleven, Target, Various Suppliers
October 11, 2022
Bang Energy owner Vital Pharmaceuticals (VPX) filed for bankruptcy protection in Florida on Monday, Oct. 10.
According to a court filing (which can be viewed HERE), VPX's top 30 non-insider, unsecured creditors are owed more than $700 million. Some of the creditors' claims are under dispute by VPX or in litigation.
VPX's creditors include:
Monster Energy for $293 million after a verdict against Bang for falsely advertising the health benefits of ingredient super creatine.
Orange Bang (n a case shared by Monster Energy) for $215 million after an arbitrator said VPX violated the trademark rights of the California-based beverage maker.
PepsiCo for $115 million following Bang's termination of a distribution deal without cause, and $2.1 million for customer programs.
Keurig Dr Pepper subsidiary American Bottling Company following a dispute over contract manufacturing (see lawsuit complaint HERE).
7-Eleven, Speedway, QuikTrip, Target for millions of dollars in customer programs.
Tens of millions of dollars in claims from can suppliers Ardaugh and Ball, as well as suppliers and contract packers including Dairy Farmers of America, Doehler USA, Wild Flavors, Graphic Packaging, and Varni Brothers.