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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.