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Lahni was Liquidating Trustee for Smith Road Furniture, Inc. formerly known as Bell Furniture Industries, Inc., Loveland, OH. When the debtor filed Chapter 11, Lahni convinced Fifth Third Bank to let him run the Chapter 11 and liquidate the assets. Bell Furniture owed Fifth Third Bank $15,200,000 and Nationwide Insurance $5,200,000. Fifth Third Bank was paid in full. Nationwide Insurance was paid in full and the unsecured creditors received a 3% recovery.
Lahni was Liquidating Trustee for Kruse Hardware, Inc., Fairfield, OH. Lahni started as "interim COO" with the company. The ownership and managers decided that their industry knowledge would take them to the finish line and refused to listen to their "interim COO". The Company filed Chapter 11, 45 days after Lahni was on the job. During the Bankruptcy, Lahni took over the company and started its liquidation. Once the Plan was approved, Lahni became Liquidating Trustee. The liquidation took 18 months before final payoff of Fifth Third Bank's debt of $9,000,000. The final payoff came from an IRS refund of $254,000.
Lahni is Liquidating Trustee for ABMD, LTD in Dayton, OH. Lahni was appointed Liquidating Trustee to complete the negotiations of a WARN ACT claim, sale of an environmental challenged property in Indiana and a small distribution. The final decree is planned for June 30, 2013.
Chapter 11 - Plan Administrator
Lahni was appointed Plan Administrator for the Bucyrus Hospital Chapter 11 case. Lahni is settling claims and will be the disbursing agent for the case.