The bankruptcy liquidation case of Douglas Battery Manufacturing Co. is over after more than three years with only secured creditor claims of two family members being paid, the Winston-Salem (N.C.) Journal reported on Saturday. Lexington Road, owner of Douglas Battery Manufacturing, filed for chapter 11 protection in January 2012, and the bankruptcy was converted voluntarily to chapter 7 in June 2012. Nearly $6.67 million in priority secured and unsecured claims will go unpaid. The bankruptcy estate gained about $1.32 million in gross receipts from the sale of assets and properties, 70 percent of which went to administrative and other legal costs. Thomas S. Douglas III will receive $250,000 for his secured claim on the sale of company real estate, while Thomas S. Douglas will receive $77,986 for his secured claim from the sale of personal property and intangibles.
