This is what we were waiting for:
Though the facts in the case at hand are somewhat different , the bankruptcy result is the same : this case WILL NOT result in Discharge, as Debtor is not entitled to one , and WILL NOT result in a distribution to creditors, as there are none.
The court understands that Debtors directors wants the case in chapter 7 , but the directors qua directors are neither creditors nor shareholders whose interest in the court must consider when considering dismissal under 704. And if the equities are considered , such factors appear to support dismissal. The directors seek to protect their own pocketbooks, they pay no heed to the economic burden they place on the Trustee.
Thus , the court is inclined to DISMISS as there appears to be "no legitimate bankruptcy purpose to be served". As a possible alternative , the PARTIES should be prepared to discuss procedures for streamlining this case and hastening completion as quickly and inexpensively as possible.
