2008 Asset Holding Gets Judge's OK To Liquidate

Law360, New York (November 16, 2009, 1:21 PM EST) -- A bankruptcy judge has signed off on a Chapter 11 liquidation plan for real estate-related securities investment firm 2008 Asset Holding Corp. that allows the company to pay back only 1 percent to 2 percent of its $112 million in debt.

Judge Arthur J. Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York on Thursday confirmed the company's liquidation plan, which provides nothing for shareholders after allowing for the company to dissolve once it pays back its unsecured creditors.

While shareholders were...
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