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Rebuiltcars Corporation Files for Bankruptcy Under Chapter 11

Friday, 21 April 2017 06:02
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Rebuiltcars Corporation seeks authorization from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral.

The Debtor is involved in the business of purchasing and/or obtaining vehicles destroyed in accidents and selling the usable parts. As reflected on the proposed monthly Budget, the Debtor's total operating expenses is estimated to be at least $35,501. The Debtor contends that if the expenses are not paid in a timely manner, it would then be forced into a premature liquidation.

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