Kid Brands, Inc. (KIDBQ)

[wingtrade]

Earlier this year, and prior to the filing of the Conversion Motion, the Debtors and the Committee approached the UST’s Office to discuss the Debtors’ proposal for disbursement of the remaining cash on hand and dismissal of these cases and to solicit the UST’s support for same. Although the Debtors and the Committee engaged in numerous discussions with the UST’s Office, the Debtors were ultimately advised that the UST’s Office would oppose a motion to dismiss these cases. Although the UST asserts in the Conversion Motion that the Debtors ‘have failed to present an exit strategy from bankruptcy’ and thus conversion of these cases would be in the best interest of creditors, the Debtors disagree. As the UST is well aware, there are insufficient funds available to prosecute and confirm a plan of liquidation in the Chapter 11 Cases.”

https://bankruptcompanynews.com/kid-brands-bankruptcy-12-7-17/