ABC Disposal No Longer Under Bankruptcy Status

NEW BEDFORD - Mike Camara, President and CEO of ABC Disposal Service, says his company is out of bankruptcy and is looking toward the future.

Camara made the announcement last night, saying that after nearly a year in Chapter 11 reorganization, the company's reorganization plan has been approved, lifting them out of bankruptcy status.

Camara says going through a dishonest creditor is what got them into serious financial trouble. "We were led down a wrong road by an individual that promised to get us some financing done and didn't do it," said Camara. "Sometimes, you put your faith in the wrong people and bad things happen. And it happened to us."

Camara had turned to Small Business Term Loans, Inc., which used a loophole to charge ABC Disposal over 50% interest.

Camara thanked the City, and family and friends for their support of the businessduring bankruptcy proceedings.