posted September 21, 2007): Has the Bankruptcy Court ruled on the Trustee’s Motion to Convert the case to a case under Chapter 11, and what happens next?
Yes. The Court granted the Motion to Convert the Case at a hearing held on September 11, 2007, and issued an Order Granting Motion to Convert Case to Chapter 11 on September 17, 2007. The Court also approved a request at the September 11 hearing that a Chapter 11 Trustee be appointed by the United States Trustee, and entered an Order Granting Motion to Appoint Trustee on September 17, 2007 as well. The United States Trustee has announced that Jeffrey H. Beck will be appointed as Chapter 11 Trustee. It is anticipated that the United States Trustee will decide whether to appoint an official committee of creditors and a separate committee of equity holders, or a representative for equity holders. In his capacity as Chapter 11 Trustee, Mr. Beck will continue to work with the proposed investor and any such committee, committees, and/or representative to finalize the terms of the transaction which will serve as the basis for a Chapter 11 Plan. Once those terms are finalized the Chapter 11 Tr
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- posted September 21, 2007): Has the Bankruptcy Court ruled on the Trustee’s Motion to Convert the case to a case under Chapter 11, and what happens next?
- posted September 21, 2007): What is the purpose behind the conversion of the case to Chapter 11?
