Court Gives Centrix Green Light To Find Buyer

Law360, New York (November 1, 2006, 12:00 AM EST) -- Putting the bankrupt auto loan company on the road to exiting Chapter 11, a bankruptcy judge approved the sale process for Centrix Financial LLP on Wednesday.

Attorney Michael Richman, who represents the company’s unsecured creditors, said his clients were concerned that if Centrix was not sold quickly, the company would either lose value or have to liquidate, costing 400 employees to lose their jobs.

Centrix, which specializes in auto loans for customers with sub-par credit, filed for Chapter 11 in Nevada in September, listing more than...
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