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1manband

05/08/19 3:10 PM

#29681 RE: CPR1975 #29680

No. There is no one to convert, as the assets have already been liquidated and the board and management are long gone.

RCPIQ has tens of millions in unpaid liabilities and zero assets. There is nothing to reorganize - the Court would never approve such a request, even if there actually was someone to make it.

Rock Creek went immediately into Chapter 7 liquidation for a reason.

tensurf

05/08/19 3:37 PM

#29682 RE: CPR1975 #29680

Yes, I am quite sure they can go from chapter 7 to 11 from what i have read.

ologun

05/09/19 9:01 AM

#29683 RE: CPR1975 #29680

Do you have a link to the bankruptcy case? Was it discharged?
If the company is liquidated, this is only RCPI(Q) on paper.
Think of it as an office building that's been vacated and waiting for a new owner. If the case was discharged then a new custodian is not liable for their debt... it is a clean slate.