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Bankruptcy Reorganization Chapter 11

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August 01, 2013

Realauction.com, LLC Files For Chapter 11

Realauction.com, LLC filed for Chapter 11 yesterday at the United States Bankruptcy Court for the Southern District of Florida.  The Debtor, based in Plantation, Florida, is represented by Akerman Senterfitt, P.A.

Realauction.com, LLC manages online software regarding tax liens and foreclosures.  According to the CFO's Declaration: "In short, the Debtor provides cost-effective, innovative technology solutions that help municipal, county and state government agencies reach their full operating potential when dealing with foreclosure sales, delinquent tax certificate sales and tax lien collection challenges."  They employ 44 people.

The Debtor attributes the Chapter 11 filing, in part, to a competitors "relentless attempts to utilize legal proceedings as a tactic to unfairly eliminate the Debtor, its primary competition, from the marketplace."

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