GE Commercial Distribution Finance, one of Vann’s largest creditors in its Chapter 11 case, has asked the bankruptcy court in Montana to convert the company’s case to a Chapter 7 liquidation, an article on www.ktvq.com said.
In court filings, GE told the court that it was concerned about the company’s cash as it heads into the holiday shopping season. U.S. Bankruptcy Judge John Peterson, the article said, objected to GE’s motion saying it didn’t give Vann’s enough time to respond. He slated a hearing for September 26.
To read the article in its entirety, click here.
Previously on abfjournal.com: