Krahl Construction Closes: FBI Raid and Assignment For The Benefit of Creditors

Posted on January 15, 2010 by Joshua Glazov
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Krahl.jpgServing search warrants earlier this month in a raid on Krahl Construction's headquarters, the FBI seized the Chicago company's computers and files. Several days later, company executives announced the company would shut its doors.

Then today Krahl set up a trust and assigned its assets into the trust for the benefit of its creditors. Howard Samuels of Rally Capital Services LLC will serve as assignee for the benefit of Krahl's creditors to oversee collection of debts owed to Krahl and payment of debts Krahl owes to others in what is akin to a private bankruptcy to wind up the company's affairs. More information is available in the Trust Agreement and Assignment available here.

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king fred - January 21, 2010 11:37 PM

i was a employee of krahl and krahl was one of the best companys i have ever worked for i wish this was all a dream i will never forget this company.

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