Kid Brands, Inc. (KIDBQ)

[wingtrade]

In addition, “As the UST is also aware, all assets of these estates have already been administered and there are no other assets to be administered or liquidated. Conversion of the Chapter 11 Cases to chapter 7 would add an unnecessary layer of administrative costs. Other than the disbursement of the remaining cash held by the Debtors and held in the GUC Trust Account…that are proposed to be paid to the DIP Agent and certain Estate Professionals….There is nothing left to be done in these cases, as all viable Avoidance Actions have been prosecuted to conclusion and all of the Debtors’ other assets have already been liquidated. Accordingly, the Debtors oppose conversion of these cases to Chapter 7 and cross-move for authority to disburse the remaining funds held by the Committee and the Debtors in accordance with the Final DIP Order and to dismiss the Chapter 11 Cases

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