Judge Appoints Trustee To Take Over Oakland Bakery

OAKLAND, Calif., Aug. 9, 2007 (KGO) (KGO) -- A federal bankruptcy judge has appointed a trustee to take over Your Black Muslim bakery. As you know, one of its former employees has been linked to the murder of an Oakland journalist. The business was trying to re-organize under chapter 11, but couldn't get it done.

For the past seven months, the management of Your Black Muslim Bakery was trying to hold on to the business.

Today a federal bankruptcy judge said every effort to reorganize failed. The business will now be in the hands of a U.S. trustee. It's up to that office to sell the business- liquidate and pay off the debt.

The trustee would not say how much the business was worth.

Tevis Thom"I don't want to say but there is some secured debt that has to be taken care of. I know the value is less than what was on the schedules just given the current the market values of real property today. But I think it should be a good price."

We know the IRS is owed a quarter of a million dollars. Those employees who are owed money must also be paid. There is a potential buyer who wants to stay anonymous. That buyer must now deal with the trustee.

In recent days, county health inspectors had shut the bakery down for health code violations.

The CEO of the bakery Yusuf Bey IV was one of seven men arrested last Friday after Oakland police raided the business and other locations. All of them were associated with the bakery.

The bakery has been a kind of landmark in this West Oakland neighborhood.

People here have mixed opinions about seeing it go.

Oakland resident: "It seems like they were trying to make ends meet. They wanted something in life."

Oakland resident: "I care about people's safety in this neighborhood more than care about the building."

According to the appointed trustee, it could take up to two years to settle the debts and finalize this case.

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