|
COPYRIGHT 2005 The Miami Herald
Byline: Elaine Walker
Mar. 28--When it comes to bankruptcy, Winn-Dixie and many other corporations don't believe in Dorothy's famous line from the Wizard of Oz, "There's no place like home."
The grocery chain filed for Chapter 11 bankruptcy protection on Feb. 21 in the U.S. Bankruptcy Court for the Southern District of New York, a long way from the company's home in Jacksonville.
Winn-Dixie says it sought bankruptcy court protection in New York to accommodate the requests of its largest secured creditors, lenders and advisors, many of whom are no more than a cab ride away from the Manhattan court.
At least one creditor doesn't agree with that decision. Buffalo Rock Co., a beverage bottler from Birmingham, Ala., that is owed $2.8 million, has asked the court to transfer the case back to the Middle District of Florida in Jacksonville.
The "debtors have engaged in blatant forum shopping...
Read the full article for free courtesy of your local library.
|