Garcia Grain Trading Corp.'s bankruptcy lawyer says its important for its four elevators to reopen because of the lack of capacity of storage in the Rio Grande Valley.
— owed roughly $20 million — cautioned that much else has to happen happen first.
Houston suggested that another outcome could be conversion of the case to a Chapter 7 bankruptcy, which would allow the liquidation of assets for benefit of creditors.to prepare financial materials to demonstrate, as Langston said, “whether there will be a profitable enterprise or not.” Garcia Grain forcefully replied to the allegations, saying in a Tuesday court document there is “nothing in the record that warrants the conclusory 'presumption' of fraud and dishonesty of the Debtor.”
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