Protected Vehicles case to remain Chapter 11 bankruptcy after creditor motion to convert case denied

By Jennifer Lanning Drey

Portland, Ore., March 25 - A motion to convert Protected Vehicles, Inc.'s Chapter 11 bankruptcy case to Chapter 7 liquidation or to dismiss the case was denied Tuesday by the U.S. Bankruptcy Court for the District of South Carolina, according to a source familiar with the case.

Protected Vehicles creditors Four Rivers Peterbilt, Inc., Peterbilt of Savannah, Inc., Three-D Metal Works, Inc. and Charleston Aluminum, LLC had made the request.

The creditors argued that Protected Vehicles has not provided any evidence of financing, has not requested any court approval to use cash collateral and has not filed any other motions that suggest that there is potential for a viable reorganization.

As previously reported, Protected Vehicles suspended its operations in early December.

Protected Vehicles, a North Charleston, S.C., designer and manufacturer of mine and ballistic protected vehicles, filed for bankruptcy on Feb. 5. Its Chapter 11 case number is 08-00738.

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