On or about February 10, 2014, following an Order from the
Court directing any party in interest to file a Plan and Disclosure Statement,
the Official Committee of Unsecured Creditors of Dlubak Corp. (the “Committee”)
filed a liquidating Chapter 11 plan (the “Plan”). The crux of the Plan
revolves around the disbursement of any sale proceeds available to the Estate
from the disposition of substantially all of the Debtor’s assets, as well as
the pursuit of potential preference, fraudulent transfer, and related claims
against third-parties. A hearing has
been scheduled on the Disclosure Statement for March 27, 2014, at 10:00am in
the Johnstown Bankruptcy Court, or via video conference from Pittsburgh, with
objections due by March 20, 2014.
In conjunction therewith, the Committee also filed a Motion for Authority to Prosecute Avoidance Action (the “Motion”) against the Debtor with respect to potential fraudulent and/or unauthorized post-petition transfers made by the Debtor to Dlubak Glass Co. and Frank C. Dlubak. The Committee demanded that the Debtor pursue said action valued at approximately $83,000 or otherwise that it be granted derivate standing to do so. A hearing has been scheduled on the Motion for March 13, 2014, at 10:00am in the Johnstown Bankruptcy Court, or via video conference from Pittsburgh, with responses due by March 6, 2014.
