The Ad Hoc Committee of Consignors and Consignment Group Withdraw Their Limited Objections to Diamond’s Agreement Over their Memphis Warehouse

In early October, the Ad Hoc Committee of Consignors and Consignment Group submitted limited objections over (old) Diamond‘s plan concerning their Memphis Warehouse. That plan had them reimbursing their owner of the warehouse for property taxes paid among other amounts. Together, it mounted to over $500,000. The concern was over Diamond’s solvency as a whole.

Now, the Ad Hoc Committee of Consignors and Consignment Group have now each withdrawn their limited objections.

While full details as to “why” aren’t given, the Consignment Group gives a hint:

…based upon the Debtor’s stipulation that it will escrow $300,000.00 for alleged administrative claims as set forth in the most recent line filing the Notice of Filing Proposed Order Approving Seventh Stipulation Amending DIP Agreement…

In short, there’s some money still out there…