579 FRANKLIN CORP Bankruptcy Filing
Case Number: 24-43643
579 FRANKLIN CORP filed a 11 chapter bankruptcy in the Eastern District of New York bankruptcy court on September 04, 2024. This is a voluntary filing; it was assigned the bankruptcy case number #24-43643.
579 FRANKLIN CORP Filing Information
On September 4, 2024, 579 FRANKLIN CORP filed for Chapter 11 bankruptcy protection under case number 24-43643 with the United States Bankruptcy Court for the Eastern District of New York. This marks a significant milestone in the company's financial restructuring efforts. As a corporation, 579 FRANKLIN CORP has chosen to pursue a Chapter 11 filing, which will allow it to reorganize its debts and develop a plan to return to profitability. The court assigned Judge Jil Mazer-Marino to oversee the bankruptcy proceedings. The company is headquartered at 579 Franklin Avenue in Brooklyn, NY, and the bankruptcy case is expected to be closely monitored by stakeholders interested in the corporation's future financial performance. The Chapter 11 filing represents an important step forward for 579 FRANKLIN CORP as it navigates its debt obligations and works towards a stronger financial future.
579 FRANKLIN CORP indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors. This is a bad sign for creditors as it implies that no recovery is likely.
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579 FRANKLIN CORP Docket Header
PlnDue, DsclsDue, Repeat, PRVDISM |
Eastern District of New York (Brooklyn)
Bankruptcy Petition #: 1-24-43643-jmm
Assigned to: Jil Mazer-Marino Chapter 11 Voluntary Asset |
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| Debtor 579 Franklin Corp 579 Franklin Ave Brooklyn, NY 11238 KINGS-NY Tax ID / EIN: 82-4784129 |
rep. by |
579 Franklin Corp
PRO SE |
| U.S. Trustee Office of the United States Trustee Eastern District of NY (Brooklyn) Alexander Hamilton Custom House One Bowling Green Room 510 New York, NY 10004-1408 (212) 206-2580 |