Destination Maternity Corp. (fka DESTQ)

[chemist72]

My final wrap up (almost).

Judge signed an order that will result in the final dissolution of the entity Destination Maternity (see docket 1229). Here is the "killer" statement from that docket:

For the avoidance of doubt, upon the dissolution of the Debtors, any remaining directors and officers of the Debtors shall be dismissed from their positions and shall have no further obligations to the Debtors or their stakeholders ....

From the final monthly report, there was about $3M cash available to the debtors. Those funds are already spoken for and approved by the court in an order regarding distributions on ALLOWED ADMINISTRATIVE CLAIMS AND SECURED CLAIMS (see docket 1220).

I will post a "final" wrap up, if I find an announcement on the final dissolution of DESTQ. This may not be published by the court but may end up in some newspaper/magazine article.

Or DESTQ may die silently in peace. RIP