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Kirk trustee gets OK to transfer proceeds of $60,400 to satisfy claims
By Lisa Kerner
Charlotte, N.C., June 24 - Kirk Corp.'s Chapter 7 trustee Richard M. Fogel received approval to transfer proceeds from the sale of real property to an account for the benefit of mechanics' lien claimants and also to transfer the remaining proceeds of sales under the approved settlement with the debtors' secured lender, according to a Thursday filing with the U.S. Bankruptcy Court for the Northern District of Illinois.
Fogel is authorized to transfer $60,400.31 from sale proceeds to the lien claim account for specific claims.
As previously reported, the sales of certain model homes are slated to close before June 30 for net proceeds of $2 million.
Kirk, an employee-owned homebuilder based in Streamwood, Ill., filed for bankruptcy on May 12, 2009. Its Chapter 7 case number is 09-17236.
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