Settlement near in lawsuit against Art Van Furniture heirs
The trustee in the Art Van Furniture bankruptcy case is seeking a portion of the money from the 2017 sale of the company to a private-equity firm.
Source: freep.com
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DBusiness Daily Update: Report: Detroit Lions Expected to be Top 20 in Franchise Revenue by 2030, and More
Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies.
Source: dbusiness.com
Bankruptcy trustee wants Art Van Furniture heirs to repay millions
A new lawsuit claims that the Van Elslander family's 2017 sale of the furniture company to a private-equity company was doomed to fail.
Source: freep.com
Van Elslander family pays $6 million to buy the Art Van name back
Van Elslander family pays $6 million to buy the Art Van name back Annalise Frank/Crain's Detroit Business Art Van's furniture stores are no more, but the family has bought back the brand name out of the bankruptcy of the company to which it had sold the chain. The Van Elslander family successfully acquired the Art Van Furniture name out of bankruptcy this month. A Delaware bankruptcy judge approved the roughly $6 million sale of the name to VEC LLC, an investment firm controlled by Gary Van Elslander — the son of the late founder Art Van Elslander — and the family office, on Feb. 1 as par...
Source: crainsdetroit.com