Jeweler Finlay Enterprises’s Plan Is Effective Company Exits Ch. 11 Protection in New York

Finlay Enterprises Inc. announced Aug. 4 that its modified liquidation plan has become effective, and the company has emerged from Chapter 11 protection (In re Finlay Enterprises Inc.).

Judge James M. Peck, who is presiding over the case, issued an order June 29 approving the debtors’ liquidation plan. According to court documents, “The Plan contemplates the liquidation of the Debtors’ remaining assets by a Plan Administrator. On the Effective Date of the Plan, all of the Debtors’ remaining assets will vest in the Post Effective Date Debtors, and the assets will be liquidated by the Plan Administrator.”

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