Judge OKs reorganization plan for bankrupt Blenko
CHARLESTON, W.Va. -- More than a year after Blenko Glass Co. filed for Chapter 11 bankruptcy protection, a judge has approved a reorganization plan.
U.S. Bankruptcy Judge Ronald Pearson in Charleston agreed to the plan this week.
Company attorney Steve Thomas told the court the reorganization plan should be effective within 70 days. According to media outlets, Thomas said all creditors who voted on the plan approved it.
The Milton-based glassmaker filed for bankruptcy protection in May 2011, listing debts to at least 50 creditors. The top listed debt was to Big Two Mile Gas Co. of Charleston. Under the reorganization plan, the company will receive nearly $44,000, compared with its claim for $709,000.
Blenko has been making hand-blown glass products since 1893, including glass for the National Cathedral in Washington, D.C.