Now, those handling the company's estate are trying to prove three real estate companies hold at least $7 million that should be included to pay back creditors.
Creditors of DCT hold that they are owed about $30 million, and employees claim they are owed money.
Southfield attorney Mark Shapiro says the case has been building before US Bankruptcy Judge Steven Rhodes on whether Ruthven Industries Inc., Henderson Properties LLC and James Bronce Henderson Realty III LP were all a part of, or separate from, DCT.
"The principal of DCT (J. Bronce Henderson III) was also the head of the real estate entities," says Shapiro, who represents Homer McClarty, the trustee in charge of the case.
He tells GlobeSt.com there are five DCT properties in the Detroit area that are worth $19 million. However, there's a mortgage on the properties of about $11.5 million. Altogether, there's about 600,000-sf of space up for sale by the three companies.
"There is a temporary restraining order to hold the sale of the real estate until this issue is worked out," Shapiro says. "We're trying to get an injunction against the sale."
Arguments started Wednesday, and witness testimony and the presenting of evidence will go on until at least Monday, Shapiro says. He adds he doesn't know when the judge will rule on the injunction.
"We have to meet the criteria that there's a likelihood of success" in tyingthe real estate companies to DCT, Shapiro says.
Asher Rabinowitz, the attorney for Henderson, did not return a call for comment.
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