The U.S. Bankruptcy Court issued an order dismissing the Small Business Development Group Chapter 11 case.
As previously reported, Court-filed documents note, “At the Status Conference, the Court will determine whether the terms of the Third Party Financing are adequate and/or sufficient in detail to enable the Debtor to move forward with the prosecution of the Amended Disclosure Statement and Plan. If the Court determines that the terms of the Third Party Financing are inadequate and/or lack sufficient detail, the Court shall immediately dismiss or convert the Debtor’s chapter 11 case, whichever is in the best interests of the creditors and the estate.”
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