Copper King Mining Corporation fka CPRKQ

[shiznit013]

It's already been clarified that the IRS is looking to make this into a Chapter 7 and they've been rebuffed so far...

You're playing a bit fast and loose with your facts. The IRS initially filed a MOTION TO CONVERT OR, IN THE ALTERNATIVE, TO DENY THE DEBTOR-INPOSSESSION’S USE OF CASH COLLATERAL IN THE ABSENCE OF ADEQUATE PROTECTION

http://www.copperkingwesternutahminingrestructure.com/wu%20104.pdf

The IRS was not rebuffed; the judge did not rule on the matter. The IRS withdrew their own motion without prejudice (they may file again if they see fit).

http://www.copperkingwesternutahminingrestructure.com/wu%20261.pdf

The IRS does not state why they withdrew the motion, but a reasonable assumption is that they see the potential for reclamation of more funds in Chapter 11 than in liquidation. I'd be willing to bet that the IRS is waiting to see the POR. If the plan does not meet their expectations, then they will refile.


As for your iBox argument, this is an ongoing BK case with 400+ filings to date. A link to the restructuring site is the best one can expect in a rapidly changing environment such as this. The information is there, if you care to dig through it. Some of our members are gracious enough to do this for us, and provide their interpretation of the information. I thank them for that.