Grubb & Ellis liquidating plan OK'd by majority of voting creditors

By Caroline Salls

Pittsburgh, March 1 - Grubb & Ellis Co.'s joint liquidating plan was accepted by a majority of voting creditors, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, 456 holders, or 96% in number, of $33.4 million, or 95.7% in amount, of general unsecured claims voted to accept the plan, while 19 holders, or 4% in number, of $1.5 million, or 4.3% in amount, of those claims voted to reject it.

The plan confirmation hearing is scheduled for Wednesday.

Grubb & Ellis is a Santa Ana, Calif.-based real estate services and investment firm. The company filed for bankruptcy on Feb. 20, 2012 under Chapter 11 case number 12-10685.

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