Kara Creditors Demand Payment

Law360, New York (December 5, 2007, 12:00 AM EST) -- A group of contractors who have made both priority and general unsecured, non-priority claims against Kara Homes has asked the judge overseeing the Chapter 11 proceedings to compel initial payments from the bankrupt homebuilder's estate.

An attorney at Teich Groh PC, which is representing this group of creditors, sent a letter to Judge Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey Tuesday asking him to order the liquidating trustee to begin paying creditors at the anticipated rate of 9%....
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