FirstPlus Financial Group consents to Chapter 11 trustee appointment

By Caroline Salls

Pittsburgh, July 24 - FirstPlus Financial Group, Inc. said it will consent to the U.S. Trustee's request for appointment of a Chapter 11 Trustee to manage the company's bankruptcy estate, according to a company news release.

As a result, Matthew Orwig will be appointed as the Chapter 11 trustee.

After considering a variety of factors and consulting with its bankruptcy counsel, the company said it decided that appointment of a Chapter 11 trustee was in the best interest of FirstPlus, its shareholders and its creditors.

FirstPlus Financial, an Irving, Texas, consumer finance company, filed for bankruptcy on June 23 in the U.S. Bankruptcy Court for the Northern District of Texas. Its Chapter 11 case number is 09-33918.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.