Exelco wins 14-day temporary restraining order against KBC actions

By Caroline Salls

Pittsburgh, Sept. 28 – Exelco North America, Inc.’s motion for a temporary restraining order in connection with actions filed by KBC Bank NV was approved Thursday by the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the order prohibits KBC from violating the automatic stay enforced by Exelco’s Chapter 11 filing and from seeking to seize or liquidate the company’s assets.

KBC was also ordered to withdraw any pending requests for relief against the Exelco debtors and their assets in the Antwerp Commercial Court and any other court.

The temporary restraining order expires in 14 days.

Antwerp, Belgium-based Exelco is a diamond distributor. The company filed bankruptcy on Sept. 26 under Chapter 11 case number 17-12029.

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