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Article: Business headlines
- Article from:
- Dayton Daily News
- Article date:
- September 30, 2009
- Author:
CopyrightCopyright 2009 Dayton Daily News. Provided by ProQuest LLC. (Hide copyright information)
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Dayton contractor files for Chapter 11 bankruptcy status
DAYTON -- Jergens Bales Contractors Inc., a small union
contractor based in Dayton, has filed for Chapter 11 protection in
U.S. Bankruptcy Court.
In the Sept. 14 filing, the company, 2734 Armstrong Lane,
estimated the value of its assets at less than $50,000 and the value
of its liabilities at more than $1 million.
The company's sole owner, Raymond Jergens, and attorney, Ira H.
Thomsen, were not immediately available for comment on Tuesday,
Sept. 29.
Chapter 11 is the most common form of bankruptcy. It frees a
company from the threat of creditors' lawsuits while it reorganizes
its finances. The debtor's reorganization plan must be ...