- Associated Press - Friday, April 25, 2014

LONGS, S.C. (AP) - A proposal filed in U.S. Bankruptcy Court indicates creditors of a classic car restoration company in Horry County who are owed more than $600,000 might recover less than a penny on the dollar.

The Sun News of Myrtle Beach reports (https://bit.ly/1rrcpYD ) that bankruptcy trustee Michelle Vieira has proposed auctioning off tools and other assets of Kenny’s Kustoms in the community of Longs. Vieira oversees the estate of Kenny Key and his wife.

The auction is expected to bring in between $8,000 and $10,000, with about 15 per cent going to the auction company. It would also cost about $4,000 to advertise the auction.

That could mean as little as $4,500 for creditors.

___



Information from: The Sun News, https://www.thesunnews.com/

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2020 The Washington Times, LLC.

Please read our comment policy before commenting.

 

Click to Read More and View Comments

Click to Hide