A judge in US bankruptcy court has granted a request by the U.S. bankruptcy trustee to convert the M Tangredi Restaurants bankruptcy from a chapter 11 reorganization to a chapter 7 liquidation, according to reporting at NashvillePost.com
The request was filed February 19 after an American Express attorney contacted the trustee's office to explain that the Tangredi bankruptcy papers had omitted the $1.1 million debt owed to American Express. The credit card company received a default judgment for that amount against M. Tangredi and Minc Concepts, a nightclub that American Express alleges was improperly obtaining credit card payments.
The liquidation motion was granted Feb. 24 and will allow the trustee to pursue the American Express debt by selling the assets of M. Tangredi Restaurants, which were listed as totaling $66,000 in the original reorganization filing.
T's Tuscan Grill on Belcourt was shuttered in December, and the landlord is currently showing the space to potential tenants. The remaining Tangredi restaurants, Michael T's on Division Street and Tangredi's at 2323 Elliston Place, have been closed since last week.
