Settlement could liquidate

    A U.S. trustee has requested the judge convert Germantown Settlement’s Chapter 11 bankruptcy filing to Chapter 7.

    The change, if approved by Bankruptcy Court Judge Stephen Raslavich, would call for Settlement’s liquidation to cover its debts.The assets of Greater Germantown Housing Development Corp, a subsidary of the nonprofit, have already been liquidated, according to a business report from the Inquirer.

    If Raslavich approves the conversion to Chapter 7, Settlement will close.

    Want a digest of WHYY’s programs, events & stories? Sign up for our weekly newsletter.

    It will take 126,000 members this year for great news and programs to thrive. Help us get to 100% of the goal.