The on-again-off-again fate of infomercial pioneer Ronco Holdings Inc. appears to be in the hands of its secured creditor after the trustee for the bankrupt gadget company withdrew his motion to sell the company Dec. 10.
The Chapter 7 trustee charged with administering the case also agreed that creditor ZGS Pension Fund will be free to pursue its remedies outside of a bankruptcy court, attorney Allen DeBard told Bloomberg Law Dec. 10. DeBard represents Randolph N. Osherow, the chapter 7 trustee administering the case.
That means ZGS will foreclose its interests in all Ronco’s assets, consisting primarily of inventory and ...
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