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Westech Capital Bankruptcy Liquidation Sought

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Westech Capital’s Chapter 11 trustee filed with the U.S. Bankruptcy Court a motion to convert the Chapter 11 reorganization to a liquidation under Chapter 7.

The motion explains, “For the reasons stated on the record at the status hearing held on June 29, 2017, Trustee was unable to confirm the Chapter 11 Plan and therefore believes this case should proceed in Chapter 7. Wherefore, Gregory S. Milligan, Chapter 11 Trustee requests that the Court convert this case to a case under Chapter 7.”

As previously reported, on June 23, 2017, the trustee sought and received approval to convert the June 29, 2017 Plan confirmation hearing to a status hearing. The trustee told the Court, “The Trustee does not intend to pursue confirmation of his proposed plan at this time, and requests that the Court change the Confirmation hearing to a status conference.” The Court scheduled an August 3, 2017 hearing to consider the conversion motion.

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The post Westech Capital Bankruptcy Liquidation Sought appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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