Former Tom's Foods files motion for case dismissal, disbursal of funds

By Jim Witters

Wilmington, Del., Aug 15 - TFI Enterprises Inc., formerly Tom's Foods Inc., is seeking dismissal of its bankruptcy case, citing "... no likelihood that a plan will be confirmed," according to documents filed Monday in the U.S. Bankruptcy Court for the Middle District of Georgia.

Eugene I. Davis, responsible officer for the debtors, said the company no longer operates an ongoing business and its assets have been fully liquidated.

"In order to expedite the distribution to the secured creditors, the court should dismiss the debtor's Chapter 11 case by entering an order directing the responsible officer to distribute the remaining estate funds," the filing stated.

"All proceeds of the estate assets other than a small fund to pay administrative costs and the U.S. Trustee fees, have been distributed for the benefit of secured creditors. There were no assets available for distribution to priority or unsecured claimants," the filing stated.

The estate holds about $127,000 that will be used to complete the wind down, the filing stated.

Tom's, a Columbus, Ga.-based snack food company, filed for bankruptcy on April 6, 2005 in the U.S. Bankruptcy Court for the Middle District of Georgia. Its Chapter 11 case number is 05-40683.

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