Footwear company bankruptcy.Los Angeles-based LL International Shoe Co. Inc., which distributes the DaDa Footwear Footwear consists of garments worn on the feet. It is worn for a variety of reasons, including protection against the environment, hygiene and adornment. Usually, socks and other hosiery are worn between the feet and the footwear, except for sandals and flip flops (thongs). brand, has filed for Chapter 11 bankruptcy protection. The company has piled up debts of about $6.5 million to its 20 largest creditors, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. court documents. However, LL International is disputing at least four of the creditors' claims. Among those is a claim by Taiwan-based Dean Shoes Company Ltd., which is seeking $2.5 million and had sought to collect the money prior to the bankruptcy. Irwin Feinberg, an attorney who represented Dean Shoes in its attempts to collect from LL International, said it was a "fair conclusion to draw" that the bankruptcy was filed to prevent the seizure Forcible possession; a grasping, snatching, or putting in possession. In Criminal Law, a seizure is the forcible taking of property by a government law enforcement official from a person who is suspected of violating, or is known to have violated, the law. . Thomas Patterson
Thomas Patterson (October 1, 1764–February 7, 1856) was a member of the U.S. House of Representatives from Pennsylvania. , an attorney involved in the case, said a creditors committee will be formed shortly to assess the financial condition of LL International. "It is not clear whether the business will continue to operate, whether there is funding or a successful business model that could sustain it or whether it would make sense in everybody's view to sell the assets," he said. Calls to LL International, as well as a lawyer and a publicist pub·li·cist n. One who publicizes, especially a press or publicity agent. publicist Noun a person, such as a press agent or journalist, who publicizes something publicist for the company, were not returned. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion