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Golfsmith International Holdings Objection Filed

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Bexar County, Dallas County, Harris County, Montgomery County and Tarrant (jointly, the “Local Texas Tax Authorities”) filed with the U.S. Bankruptcy Court an objection to Golfsmith International Holding’s financing motion.

The objection explains, “The Local Texas Tax Authorities are political subdivisions of the State of Texas authorized to assess and collect ad valorem taxes pursuant to the laws of the State. The Tax Authorities have filed secured claims totaling approximately $240,000 for ad valorem taxes owed on the Debtors’ personal property for the 2016 tax year….The proponents of the Financing Motion have failed to demonstrate that the liens of the Tax Authorities are adequately protected as required by 11 U.S.C. § 364(d)(1)(b). The proponent of a motion seeking a super priority lien has the burden of proof on that issue, 11 U.S.C. § 364(d)(2).”

Read more Golfsmith bankruptcy news.

The post Golfsmith International Holdings Objection Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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