Oyster Company Of Virginia Seeks Chapter 11
October 25, 2016 | 1 min to read
In an attempt to thwart the efforts of a group of disgruntled Richmond investors, a Middle Peninsula oyster company is eyeing Chapter 11 bankruptcy protection.
Oyster Company of Virginia asked the federal bankruptcy court last week to allow it to go into Chapter 11 to deal with debt claims made by several of its early investors, a list that includes at least two Richmonders.
The company’s request for Chapter 11 was made in response to an involuntary bankruptcy petition made earlier in the month by those investors, who sought to push the company into Chapter 7 liquidation.
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