Exelco Ch. 11 Bankruptcy Is 'A Mess,' Judge Says

Law360, Wilmington (October 23, 2017, 8:58 PM EDT) -- A Delaware bankruptcy judge called diamond cutter and wholesaler Exelco NV's Chapter 11 case "a mess" Monday and directed the sides to talk over a tangle of disputes before he tried unraveling them, including whether the proceeding should be in Belgium and who speaks for the debtor.

During a hearing in Wilmington, U.S. Bankruptcy Judge Kevin Gross said that portions of the case seemed to be at inextricable loggerheads, with the diamond wholesaler's main creditor, KBC Bank NV, arguing that the proceedings must take place in the debtor's home country of Belgium and that the court there has already appointed an...

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