1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution

Dream House Windows Confirms Chapter 11

Dream House Windows has established & implemented a plan for reorganization which has been confirmed by the United States Bankruptcy Court for the district of New Jersey as of May 11th, 2011.

 
PRLog - Sep. 6, 2011 - West Berlin, NJ, September 6th,2011: In conclusion to a vigorous lawsuit with a local competitor, after being ordered to pay a substantial judgement due to binding arbitration, Dream House Windows made the decision to file for a chapter 11 reorganization. Keeping consistent with their company policy of the customer always coming first, this was the best option as opposed to raising prices. With the support of their loyal customers & employees, Dream House Windows followed through with the proceedings of the reorganization while still providing great customer service and operational integrity. During this time Dream House Windows has established & implemented a plan for reorganization which has been confirmed by the United States Bankruptcy Court for the district of New Jersey as of May 11th, 2011.

“The chapter of the Bankruptcy Code providing (generally) for reorganization, usually involving a corporation or partnership. (A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.)”
(http://www.uscourts.gov/FederalCourts/Bankruptcy/Bankrupt...)

“Confirmation of a plan under Chapter 11 acts as a discharge of all debts, filed or not, excluding those specified as not dischargeable elsewhere in the bankruptcy code. Upon confirmation of a plan, the debtor receives back all his property free and clear of all liens and encumbrances unless such liens are preserved by the plan. Both the debtor and the creditors are bound by the terms of the confirmed plan.”
(http://www.extension.umn.edu/distribution/businessmanagem...)

Dream House Windows would like to thank its customers and employees for its continued support and dedication during this time of reorganization.

--- End ---

Click to Share

Contact Email:
***@dhwindows.com Email Verified
Source:Mike Bahm
Phone:1(866) 235-7499
Zip:08091
City/Town:West Berlin - New Jersey - United States
Industry:Home improvement, Home
Tags:DHWNJ, vinyl windows, windows, Siding, doors
Shortcut:prlog.org/11649585
Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share