Freedom Electric Marine, Inc. has filed for bankruptcy protection amid a widening gap between its assets and liabilities. The North Carolina-based watercraft maker aims to narrow that gap and restructure its operations through the court-supervised process.
Freedom Electric Marine, Inc. Enters Chapter 11 Proceedings
According to Pacer, Freedom Electric Marine, Inc. submitted its case to the U.S. Bankruptcy Court for the Middle District of North Carolina. On November 30, the company, doing business as Twin Troller, submitted a voluntary Chapter 11 petition to reorganize the business.
Freedom Electric Marine, Inc. manufactures small fishing boats powered by dual electric motors. The lineup includes the Twin Troller X10 and the Twin Troller X10 Deluxe. Both models are manufactured in Holland, Michigan.
With the latest Chapter 11 filing, Freedom Electric Marine, Inc. plans to continue operations as the case progresses.
Official Filing Details
According to the official filing, Freedom Electric Marine, Inc. is a small business debtor under Chapter 11 U.S.C. § 101(51D). As a small business debtor, the company is proceeding under Subchapter V.
This is the company’s first bankruptcy filing in eight years. The filing also states that none of the company’s partners or affiliates are in bankruptcy.
On November 30, Joshua Robbins, the President of Freedom Electric Marine, Inc., signed in the court as the representative of the watercraft maker. Attorney Samantha K. Brumbaugh from Ivey, McClellan, Siegmund, Brumbaugh & McDonough, LLC is legally representing the North Carolina company.
Below are more details related to the bankruptcy:
- Filing Date: November 30, 2025
- Court and Jurisdiction: U.S. Bankruptcy Court for the Middle District of North Carolina
- Type of Filing: Active, Voluntary Petition, Subchapter V
- Chapter: 11
- Case Number: 25-10835
- Estimated Assets: $50,001 – $100,000
- Estimated Liabilities: $500,001 – $1 million
- Reason for Filing: Increasing difference between assets and liabilities calls for court supervision
The official filing adds that currently, Freedom Electric Marine, Inc. owes around 49 creditors in total. The filing notes that, after administrative expenses, the company may be unable to repay unsecured creditors.
On November 30, Freedom Electric Marine, Inc. submitted a list of the 20 largest unsecured creditors. The list includes Bayfirst National Bank, Headway Capital, Shopify Capital, Newity, and Triad Business Bank.
The watercraft maker submitted a Corporate Ownership Statement on the same day.
A Chapter 11 process will allow the company to address its financial gap while continuing day-to-day operations.
