Fla. Mall Site Set For Sale After Bankruptcy Conversion Denied

By Carolina Bolado (February 12, 2015, 7:13 PM EST) -- A Florida bankruptcy judge on Thursday refused to convert the liquidation of the owner of a vacant Plantation, Florida, shopping mall into a Chapter 11 reorganization and set a date for an auction of the property.

U.S. Bankruptcy Judge John K. Olson denied the motion to convert the bankruptcy filed by Tangshan Ganglu Iron & Steel Co. Ltd., the majority owner of the entity formed to oversee the development of Plantation's defunct Fashion Mall. The judge noted that there was no business to reorganize and that the Chapter 11 process would involve much greater costs and more risks for the estate....

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