Dismissal of the Greenbrier Bankruptcy

 The Greenbrier and its related entities (“Debtors”) are seeking to dismiss their bankruptcy cases due to the purchase of their holding company.  The Debtors alleged that they commenced their Bankruptcy Cases for one purpose: to facilitate a sale or restructuring transaction that would ensure The Greenbrier continues operating as a going concern under new ownership for the benefit of all parties in interest. Debtors allege that because that purpose has now been achieved through a stock transaction outside the purview of the Bankruptcy Court, and because the Debtors’ new owner will ensure that the Debtors satisfy their existing third-party debt in the ordinary course of business, the Bankruptcy Cases no longer serve any necessary restructuring purpose. They further allege that the interests of the Debtors and their creditors would be better served by dismissal of these Bankruptcy Cases.  The hearing on the Debtors’ motion to dismiss will be held Tuesday, May 19th at the Bankruptcy Court for the Eastern District of Virginia, Richmond Division, in Judge Huennekens’ courtroom at 10am.