In the category of "isn't it over yet?" yesterday, a federal district court judge in New York upheld a ruling by the Borders bankruptcy case judge that the holders of 17.7 million gift cards worth an estimated $210.5 million--all unredeemed when Borders closed in 2011--are owed nothing.
According to Reuters, Judge Andrew Carter said allowing cardholders to try to recover money from Borders would upset the liquidation plan that is "substantially" completed. Furthermore, he said cardholders had failed to prove they met requirements for an exception.