Hopes that Grove Worldwide would come out of Chapter 11 this week were dashed when the judge at the US Bankruptcy Court for the Middle District of Pennsylvania in Harrisburg ordered a continuance on 12 September.
The Honorable Robert J. Woodside said that he would issue his ruling on the future of the company and announced whether Grove’s restructuring plan could proceed shortly after hearing closing arguments, re-starting on 12 September.
Grove presented its evidence at hearing on 14 and 15 August. It was possible that the judge could have decided immediately that Grove could come out of its voluntary Chapter 11 bankruptcy protection. Although this did not happen, Grove chairman and chief executive officer remain optimistic. ‘We are pleased to have completed this important phase of our reorganisation,’ he said. ‘We are very optimistic that our plan of reorganisation will be confirmed as presented, which will mark a new beginning for a stronger and more financially secure Grove.’ Grove filed for Chapter 11 protection and filed its plan of reorganisation on 7 May.
