Transland Financial Services asks for dismissal of involuntary Chapter 11 case

By Reshmi Basu

New York, Aug. 31 - Transland Financial Services, Inc. called for the dismissal of its involuntary Chapter 11 case, according to a Friday filing with the U.S. Bankruptcy Court for the Middle District of Florida.

According to the motion, Transland Financial argues that the Chapter 11 case should be dismissed on grounds that the petition filed by three of its creditors was "procedurally improper."

In addition, the company said it is paying the debts as they come due.

TierOne Bank, Federal Trust Bank and MidCountry Bank filed an involuntary Chapter 11 bankruptcy case against TransLand on Aug. 23 in the U.S. Bankruptcy Court for the Middle District of Florida.

The company is a Maitland, Fla.-based mortgage brokerage firm. Its Chapter 11 case number is 07-03834.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.