Lender Pushes Ch. 7 For Steve & Barry's Owner

Law360, New York (July 28, 2009, 12:21 PM EDT) -- The lender seeking liquidation of the owner of the defunct Steve & Barry's discount clothing chain has fired the latest round in a scuffle over whether to convert the Chapter 11 bankruptcy proceedings to Chapter 7.

Ableco Finance LLC filed a reply Monday in the U.S. Bankruptcy Court for the Southern District of New York, saying BH S&B Holdings LLC has made no convincing arguments that liquidation would not be the best course of action for its estate.

“While the debtors would like to have this...
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