Case Summary
**Case Summary: In re Cordua Restaurants, Inc.**
**Docket Number:** 3056398
**Court:** United States Bankruptcy Court
**Date:** [Insert relevant dates, if available]
**Parties Involved:**
- **Debtor:** Cordua Restaurants, Inc.
- **Creditors:** Various creditors with claims against the debtor.
**Background:**
Cordua Restaurants, Inc. filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code in an effort to restructure its debts and continue operations. The restaurant group is known for operating several restaurant brands, and it faced significant financial challenges due to a variety of factors, including changes in consumer behavior, increased operational costs, and competition in the restaurant industry.
**Issues:**
The case primarily revolves around the following key issues:
1. **Reorganization Plan:** Cordua Restaurants sought court approval for its proposed reorganization plan, which aimed to reduce debts and streamline operations.
2. **Creditor Claims:** The court had to address claims from creditors who were owed money by the restaurant chain, including lease obligations, loans, and trade debts.
3. **Asset Valuation:** Determining the fair market value of the debtor's assets to assess the feasibility of the restructuring plan.
**Proceedings:**
- **Filing of Chapter 11:** Cordua Restaurants filed for bankruptcy, citing substantial liabilities and operational challenges.
- **Plan Disclosure:** The debtor submitted a disclosure statement accompanying its reorganization plan, outlining how it planned to address creditor claims and stabilize operations.
- **Creditor Objections:** Some creditors objected to the proposed plan, arguing about the valuation of assets and the proposed treatment of their claims.
**Court Decisions:**
- The court held hearings to evaluate the reorganization plan and the objections raised by creditors.
- After reviewing the plan and considering all objections, the court issued a ruling on the confirmation of the reorganization plan, which included important terms regarding the treatment of secured and unsecured creditors, asset sales, or retention.
**Conclusion:**
The case of In re Cordua Restaurants, Inc. illustrates the complexities surrounding business reorganization in bankruptcy. The outcome of this case hinged on the ability of Cordua to convince the court of the viability of its reorganization plan while addressing the concerns of its creditors. The court's decision will impact not only the future of Cordua Restaurants but also the interests of its creditors and employees.
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**Note:** Please insert specific dates, facts, or outcomes as necessary based on the actual court documents or records related to docket number 3056398.