Revstone Lender Looks To Foreclose On Defunct Unit

Law360, Wilmington (February 20, 2013, 10:28 PM EST) -- Revstone Industries LLC's largest secured creditor told a Delaware bankruptcy judge Wednesday that it must be allowed to foreclose on the assets of a defunct Revstone subsidiary because the unit has no hope of reorganizing and is frittering away the firm's security.

Boston Finance Group LLC, which holds a $4.5 million lien against US Tool & Engineering LLC, blasted the the unit's efforts to liquidate the equipment and said the value of that collateral would continue to deteriorate unless the lender is allowed to take control...
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Case Information

Case Title

Revstone Industries, LLC


Case Number

1:12-bk-13262

Court

Delaware

Nature of Suit

Date Filed

December 3, 2012

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