We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Finova Asks To Reenter Chapter 11

Law360 (November 13, 2006, 12:00 AM EST) -- Five years after it first emerged from bankruptcy protection, Finova Capital Corp. has asked the court to let it dive back in to Chapter 11 so it can sell off its assets.

In court papers filed on Friday, consumer finance company Finova said that it could not fulfill a previous agreement in its 2001 reorganization plan that prohibits it from conducting new business until $3.25 billion in senior notes had been paid off.

“It has become clear that, even in the best of circumstances, Finova will...
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.