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13-55559 Daniel Harrow v. Chriss Street




Circuit city liquidating trustee

Circuit city liquidating trustee


Only two went to trial. About of those were filed, Cain said, resulting in various amounts coming back to the estate. It took a couple years after the original filing before a liquidation plan was agreed upon by creditors and confirmed by the court. Claims traders, a somewhat obscure group in the financial world, gamble on how much money will be found in a bankruptcy case by buying debt claims on spec. Embed from Getty Images Like a zombie refusing to go down for the count, one of the largest and longest-running corporate bankruptcies in recent Richmond memory lurches on. Then there was the process of hunting for assets to pay back to creditors, which in some instances led to other drawn-out legal battles. Creditors have received distributions from the trustee over the nine years of the case, which originally estimated a recovery range of 8 to 32 cents on the dollar. In August Judge Kevin Huennekens approved a motion to extend the term of the liquidating trust overseeing the bankruptcy estate through at least Nov. So if the initial estimate in the Circuit City case was 16 cents on the dollar, claims traders would have bought claims from creditors at a discount from that, betting that the final outcome would be higher. Cain said there are four full-time and three part-time workers on that staff. The case has trudged on longer than former Richmond-based peer LandAmerica, which went bankrupt a few weeks after Circuit City. That case was closed out in late , seven years after its original filing.

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Circuit city liquidating trustee. Circuit City bankruptcy: 9 years and counting.

Circuit city liquidating trustee


Only two went to trial. About of those were filed, Cain said, resulting in various amounts coming back to the estate. It took a couple years after the original filing before a liquidation plan was agreed upon by creditors and confirmed by the court. Claims traders, a somewhat obscure group in the financial world, gamble on how much money will be found in a bankruptcy case by buying debt claims on spec. Embed from Getty Images Like a zombie refusing to go down for the count, one of the largest and longest-running corporate bankruptcies in recent Richmond memory lurches on. Then there was the process of hunting for assets to pay back to creditors, which in some instances led to other drawn-out legal battles. Creditors have received distributions from the trustee over the nine years of the case, which originally estimated a recovery range of 8 to 32 cents on the dollar. In August Judge Kevin Huennekens approved a motion to extend the term of the liquidating trust overseeing the bankruptcy estate through at least Nov. So if the initial estimate in the Circuit City case was 16 cents on the dollar, claims traders would have bought claims from creditors at a discount from that, betting that the final outcome would be higher. Cain said there are four full-time and three part-time workers on that staff. The case has trudged on longer than former Richmond-based peer LandAmerica, which went bankrupt a few weeks after Circuit City. That case was closed out in late , seven years after its original filing.

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4 thoughts on “Circuit city liquidating trustee

  1. [RANDKEYWORD
    Malashicage

    So if the initial estimate in the Circuit City case was 16 cents on the dollar, claims traders would have bought claims from creditors at a discount from that, betting that the final outcome would be higher. That case was closed out in late , seven years after its original filing.

  2. [RANDKEYWORD
    Nikokinos

    So if the initial estimate in the Circuit City case was 16 cents on the dollar, claims traders would have bought claims from creditors at a discount from that, betting that the final outcome would be higher.

  3. [RANDKEYWORD
    Sat

    That case was closed out in late , seven years after its original filing.

  4. [RANDKEYWORD
    Kigagrel

    That case was closed out in late , seven years after its original filing. Then there was the process of hunting for assets to pay back to creditors, which in some instances led to other drawn-out legal battles.

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