Liquidating plan

Posted by / 12-Aug-2016 04:51

Liquidating plan

The proceeds from the liquidation are placed in a trust.

The business owner may choose to retain control of the plan, but it is advisable to work with an attorney during this time.

The Borrower Claims Trust was established for the sole benefit of the holders of Allowed Borrower Claims and is administered by the Borrower Claims Trustee.The cases were filed in the United States Bankruptcy Court for the Southern District of New York.The cases have been jointly administered under case number 12-12020.If a liquidating plan may be in your company's future, you may wish to discuss your options with one of our knowledgeable Chapter 11 lawyers.Under a Chapter 11 liquidation plan, the remaining assets of the business are gathered and liquidated.

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