Sunday, January 27, 2019 4:56:42 PM
The process is guilty until proven innocent, like it or not.
It is up to the company to provide evidence that they could not possibly have upheld their filing responsibilities.
The judge will usually make a preliminary ruling which is ALWAYS revoked. Even though the first ruling was thrown out don't be surprised if this happens again. Its their process.
The company then presents its reasoning as to why they did not file (which has already been done), and usually tries to catch up on their filings (which has already been done).
Upon review the judge may revoke, ask for more information or clarification or hold over the preceedings. Sometimes this can last for years without a final ruling. There is no such thing as a drop dead date for finality. I am personally involved in one that is in its 7th year. Don't hold your breath, anything can happen. The only history we have to go on is that most companies in this state simply fold as they are near defunct anyways.
This is how it works. Don't read anything into this as it is just an informational post. I am not making any readings as to our situation, that is for other posts.
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