Dive Brief:
- Creative Recycling Systems' stockpile of 30 million pounds of cathode ray tubes (CRT) in its warehouse led to the company’s inability to find a buyer for the company.
- The bankrupt company filed papers in December 2014 to liquidate its assets.
- Creative Recycling is also being sued for $19 million by Regions Bank.
Dive Insight:
Jerry McHale, the trustee appointed to oversee the liquidation of Creative Recycling, told Resource Recycling that an abandonment order issued by the court would transfer ownership of the company, its assets, and the land where Creative was housed to Regions Bank. The new owners will receive all assets from the company—including the piles of CRT.
