Bashas Exit Bankruptcy


A federal bankruptcy court judge recently approved the emergence from bankruptcy of Arizona grocer Bashas Inc. despite the objections from banks and insurance companies who are the secured creditors of the company. Bankruptcy judge James Marlar was of the opinion that the 100% repayment plan proposed by Bashas was sufficient to satisfy the court. This payment plan received the backing of Bashas’ unsecured lenders, primarily made up of its suppliers. In his ruling, Judge Marlar said that the objections of the secured creditors would have served no purpose but to delay matters further, which would have been beneficial to no one concerned in the bankruptcy.

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