Bombay Liquidation Plan Draws Protest

Law360, New York (August 12, 2008, 12:00 AM EDT) -- Two California counties have objected to the reorganization proposal put forth by The Bombay Co. Inc., arguing that the liquidation plan does not properly account for the money the retail store still owes them.

On Monday, the counties of San Bernardino and Riverside, Calif., filed their objection to the plan in the U.S. Bankruptcy Court for the Northern District of Texas, insisting that the plan does not meet the confirmation requirements outlined in the Bankruptcy Code.

“Debtor has failed to provide for either San Bernardino or...
To view the full article, register now.