KRDO TV Asks R&H for Legal Insight On Bankruptcy

March 22, 2024 | 1 minute read
Attorney standing with text of bankruptcy chapter 11 in the background

Homeowners across Colorado Springs find themselves in a difficult legal situation. They’ve been left stranded by a garage door company’s bankruptcy filing. In a recent investigation by KRDO, customers are out thousands of dollars, garage doors after Colorado Springs company files bankruptcy.

The company's abrupt bankruptcy filing under Chapter 11 has left customers bewildered and outraged. The bankruptcy filing lists more than 200 creditors, including more than 100 individuals.

KRDO TV interviewed Robinson & Henry Bankruptcy Partner Elizabeth German for her legal insights into the predicament faced by their customers and other affected individuals. 

German offers an important perspective on the challenges faced by defrauded consumers. Despite the alleged fraudulence of the company’s actions, German highlights the uphill battle in proving such claims within the confines of bankruptcy court.

“Those fraud standards are a little harder to pin down and prove,” she said. “You have to have some really finite, concrete evidence for those fraud standards. It's kind of almost a buyer beware mentality. It's always a possibility whenever you go anywhere that that business could shut down.”

Many homeowners entrusted the garage door company with substantial deposits for garage door installations, only to find themselves without doors and without recourse when the company filed for Chapter 11 bankruptcy. 

German explained the legal complexities surrounding bankruptcy filings. She emphasized the challenges in proving fraud and the limitations of bankruptcy courts in protecting both debtors and creditors. As consumers, it is imperative to remain vigilant and informed, especially when engaging in financial transactions. 

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