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Soupman Bankruptcy Liquidation Approved

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The U.S. Bankruptcy Court issued an order converting Soupman’s Chapter 11 reorganization to a liquidation under Chapter 7.

The conversion order states, “The Debtors shall forthwith turn over to the Chapter 7 trustee all records and property of the estate under its custody and control as required by Federal Rules of Bankruptcy Procedures 1019(4)….Within thirty days from the date of this order, file and transmit to the United States Trustee a final report and account as required by FRBP 1019(5)(A).”

As previously reported, “The Debtors have determined that the best interest of all creditors will best be served by converting these Chapter 11 Cases to cases under Chapter 7 of the Bankruptcy Code so that a Chapter 7 trustee may investigate and pursue those causes of actions to maximize recoveries while reducing the continuing costs of the administration of these estates.” The U.S. Trustee assigned to the case subsequently filed with the Court a notice of the appointment of David Carickhoff You as interim Chapter 7 trustee.

This food manufacturer and retailer filed for Chapter 11 protection on June 13, 2017, listing $3 million in pre-petition assets.

Read more Soupman bankruptcy news.

The post Soupman Bankruptcy Liquidation Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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