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Re: Millions242 post# 21116

Friday, 01/26/2018 2:19:05 PM

Friday, January 26, 2018 2:19:05 PM

Post# of 21990
Yes that was the day it converted to chapter 7 .

Approved by the Court, the Conversion Motion is expected to be effective on October 31, 2017. Further, if the Conversion Motion is approved by the Court, the Debtors’ Chapter 11 Case will be converted to a Chapter 7 Case, and a trustee will be appointed to liquidate the Debtors’ remaining assets for distribution in accordance with the priorities established by Chapter 7 of the Bankruptcy Code. If the conversion to a Chapter 7 Case occurs, the Debtors will no longer remain in possession of their remaining assets and properties, they will cease operating their remaining businesses and managing their remaining properties as debtors-in-possession, and their assets and properties will be liquidated for the benefit of their creditors.
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