Energy Conversion Devices, Inc. (fka ENERQ)

[wall_street61]

According to the court docs, a plan support agreement was reached with an ad hoc group of noteholders representing 70% of the outstanding notes. The agreement calls for the sale of all of the businesses and a winding down of the estate.

In other words, this is a Chapter 7 liquidation executed within the guise of Chapter 11.

There will be no re-organization. This is a garage sale.