United Western Bancorp Inc (fka UWBKQ)

[56Chevy]

it is not over until a POL is filed.

You say that with complete confidence...but where would someone find that statute in US Bankruptcy Code?

Would it be fair to say the conversion of a Chapter 11 bankruptcy to a chapter 7 is a "Plan of Liquidation"? I'm thinking it does but then again on this board reality is whatever comes out of Boulder.

What if I said the shareholders received their Plan of Liquidation over a year ago on Tax day of 2013?

The actual plan of liquidation was unwittingly posted last January [post 28767].

TRUSTEE’S SECOND STATUS REPORT DATED JANUARY 15, 2014

Simon E. Rodriguez, Chapter 7 Trustee (the “Chapter 7 Trustee”) files this Second Status

1. This is the Second Status Report filed in this case. It provides an update of matters that were pending at the time of the first Status Report was filed on August 19, 2013 (the
“August 19, 2013 Status Report”) and it sets forth events that have transpired since August 19, 2013.

2. On March 2, 2012, United Western Bancorp, Inc. (the “Debtor”) filed its voluntary petition for relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the District of Colorado. From March 2, 2012 to April 15, 2013, the Debtor operated as a debtor-in-possession.

3. On April 15, 2013, the Bankruptcy Court entered an Order converting the Debtor’s bankruptcy case to a case under Chapter 7 of the Bankruptcy Code. Simon E. Rodriguez is the duly appointed Chapter 7 Trustee.

4. On April 17, 2013, the Chapter 7 Trustee sought authority to hire Dickensheet & Associates, Inc. as liquidator of the Debtor’s personal property. The Bankruptcy Court approved this hiring by its Order entered April 22, 2013. By April 30, 2013, Dickensheet & Associates, Inc. removed all of the Debtor’s personal property from its leased space.

5. On June 26, 2013, the Chapter 7 Trustee filed an Amended Motion to Sell Property of the Debtor. On July 29, 2013, the Bankruptcy Court entered its Modified Order permitting the sale of the Debtor’s personal property. The personal property was sold by auction held August 21, 2013. On September 25, 2013, Dickensheet & Associates, Inc. filed its Report of Sale.

=============

*2 days after the Trustee was appointed the plan of liquidation was put in motion. The only items keeping the case open are the ITR's and the D&O suits.

**There will be no Net Operating Loss purchases by FCNCA. Why not? NOL's are non-transferable...and that's true even in Boulder.