East Coast Brokers trustee wins subsidiary bankruptcy case dismissal

By Kali Hays

New York, July 8 – East Coast Brokers & Packers, Inc.’s Chapter 7 trustee, Gerald A. McHale, Jr., received court approval of his request that the Chapter 11 case of East Coast subsidiary Stellaro Bay, Inc. be dismissed, according to a July 3 order with the U.S. Bankruptcy Court for the Middle District of Florida.

The dismissal is effective as of July 3 and will result in the disbursement of all cash in the estate totaling $881,885.

The disbursement will consist of a $2,030 payment to the Internal Revenue Service and a $47,360 payment to McHale, with the remaining balance going to the East Coast bankruptcy estate, according to the motion.

McHale said that the dismissal “will minimize delay, professional fees and costs and ensure orderly payment of all allowed claims” and that the “interests of creditors are better served by dismissal.”

Mulberry, Fla.-based former tomato grower-shipper East Coast Brokers & Packers filed bankruptcy on March 6, 2013 under Chapter 11 case number 13-02894.

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