Galleria 2425 Owner’s Chapter 11 case dismissed by judge

Chicago, Nov. 1 – Galleria 2425 Owner LLC’s Chapter 11 bankruptcy case has been dismissed for cause by the judge in the case, according to an order filed with the U.S. Bankruptcy Court for the Southern District of Texas and entered on Wednesday.

The judge said that the appointment of an examiner or a Chapter 11 trustee, or conversion to Chapter 7 are not in the best interest of the estate and its creditors.

The judge also noted that there is not a reasonable likelihood of confirming a Chapter 11 plan.

There was a motion to dismiss the case in September by lender National Bank of Kuwait, SAKP, New York Branch that was rejected.

The case involved a single real estate asset located at 2425 West Loop South, Houston.

The Houston-based single-asset real estate company filed Chapter 11 bankruptcy on July 5 under case number 23-60036.

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