Jackson Quoted in Columbus Dispatch Story on Furniture Store’s Bankruptcy Filing

Reginald Jackson, a partner in the Columbus office, was quoted in a Columbus Dispatch story titled “Stunned Lombards Clients Likely to Lose Big.”  According to the story, a Columbus furniture company declared bankruptcy and stated in its bankruptcy filing that it has assets of about $616,00 and owes creditors more than $1 million.  Jackson was quoted in a section of the story that highlighted the impact of the bankruptcy on the store’s customers.

The story states:

“‘There is a small priority made available under the bankruptcy code for these creditors,’ said Reggie Jackson, a partner at the law firm Vorys, Sater, Seymour and Pease and former president of American Bankruptcy Institute. ‘But the problem is that priority is seventh level, meaning there are six other levels in line ahead of them.’

In most cases, Jackson said, once everything has been liquidated and secured creditors paid off, there is rarely anything left for unsecured creditors.”

To read the entire story, visit the Columbus Dispatch website. (Subscription may be required).