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New York Bankruptcy Judge in Serious Condition After Car
Accident
Bankruptcy Judge Jeffrey H. Gallet (S.D.N.Y.) is in serious
condition in a Portland, Maine, hospital as a result of injuries
sustained in an auto accident on July 16. The two-car accident occurred
in Yarmouth, Maine. Judge Gallet has been a speaker at ABI programs for
state court judges and at ABI's New York City Bankruptcy Conference.
Before joining the bankruptcy bench, he was a judge of New York State's
Family Court and New York City's Civil and Criminal Courts, where he was
recognized as an expert on spouse and child support matters. He is the
author of three books and more than 75 articles on legal subjects. Judge
Gallet has been an adjunct professor at Brooklyn Law School, St. John's
University School of Law and Wilkes University. Previously, he taught at
Columbia and the City University of New York. The thoughts and prayers
of the bankruptcy community are with Judge Gallet and his family.
Cerplex Group Converts to Voluntary Bankruptcy
Cerplex Group Inc. yesterday converted an involuntary chapter 11 filed
by bondholders June 20 to a voluntary case, according to Reuters. In
papers filed in the U.S. Bankruptcy Court for the District of Delaware,
the Irvine, Cal.-based company listed assets with a book value of $10.5
million and debt of about $40.6 million, including $30.0 million in
fixed liquidated secured debt. Claims for the 20 largest unsecured
creditors are for trade, and they range from $43,000 to $460,000.
Cerplex provides repair and logistics services to makers of computers,
communications, and electronic office equipment.
AmeriServe's Equipment Division Sale Approved
AmeriServe Food Distribution Inc. yesterday announced that the U.S.
Bankruptcy Court for the District of Delaware in Wilmington has approved
the sale of AmeriServe's Equipment Division assets to North Texas
Opportunity Fund LP for $26 million, according to a newswire report. The
approved sale is scheduled to close on or before Aug. 15. The Addison,
Texas-based company is one of the nation's largest distributors
specializing in chain restaurants, serving leading quick-service systems
such as KFC, Long John Silver's, Pizza Hut and Taco Bell.
Vencor Obtains Extension to File Its Plan of
Reorganization
Vencor, Inc. yesterday announced that the U.S. Bankruptcy Court for the
District of Delaware has approved a motion to extend the company's
exclusive right to file its plan of reorganization through Aug. 17,
according to a newswire report. The company and lenders under the
debtor-in-possession financing have agreed to permit the Louisville,
Ky.-based company to seek an extension of the period of time to file its
plan of reorganization through August 17. Vencor and its subsidiaries
filed voluntary chapter 11 petitions on Sept. 13.
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