Kentucky Plant Reopens After Chapter 7 Bankruptcy
Few businesses come back to life after filing Chapter 7 bankruptcy, but CPM Wolverine Proctor LLC has done it. Wolverine Proctor & Schwartz LLC filed for bankruptcy almost a year ago. Today, eight months after being acquired by Waterloo Iowa’s CPM, it reopened its Lexington Kentucky plant.
Last week, the newly reopened plant shipped a huge industrial oven for preparing frozen pizzas and a nearly as large multiple conveyor/dryer system for the cereal industry - the first two pieces of new capital equipment it has produced since the bankruptcy. The projects sold for about $1 million dollars each.
The company restored 45 of the 50 jobs at the plant. Chuck Crouch, a former and restored employee, said “I’m glad to be back.” Peewee Purdue said of the plant: “This place has always had work. I never have understood why it closed down.”
My husband filed for bankruptcy in 1998. since then I have received several credit cards in my name and allowed myself to become overwhelmed by debt. I am on disability and unable to work. am I eligible to file for bankruptcy or my husband responsible to pay my credit card debts?