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Specializing in insolvency and complex commercial matters since 1974

Court Approves Deleveraging And Settlement Regarding Colonial Construction Company, Inc. And Its Affiliates Under Section 363 Sale - January 20, 2011

On January 20, 2011, the United States Bankruptcy Court, Middle District of Florida, Fort Myers Division, approved a sale of substantially all assets of Colonial Construction Company, Inc., and its affiliates Colonial Ready Mix, LLC, and CCC Trucking, LLC, after a Court approved bidding process, free and clear of liens and claims. The sale followed a global resolution and settlement of pending litigation with a former owner, Perry Lawrence, approved by the Court in December 2010, wherein Lawrence withdrew all claims against his former partner, the companies, and ownership. LINK: Ex-owner lays claim to three firms The companies have 64 employees, and the buyer will continue to produce prestressed structural floor and roof systems, and steel, block, and hollow core concrete, from its ready mix batch plant in Charlotte County, Florida. Steve Leslie and Dan Fogarty represented the company through the litigation, settlement, and sale process.