Tricolor Holdings’ trustee urged a bankruptcy court to quickly approve her request to auction assets of the collapsed used-car business, including thousands of vehicles.
Chapter 7 trustee Anne Elizabeth Burns is working with servicer Vervent and logistics company Holman to move the vehicles to auction lots and start the sale process. Their fees are reasonable and will make the sale process efficient, she said in a Nov. 21 filing in the US Bankruptcy Court for the Northern District of Texas.
The expedited request said the sale terms were heavily negotiated among the trustee, secured creditors including JPMorgan Chase Bank, as ...