Galvex Capital Tries To Bounce Chapter 11

Law360, New York (September 26, 2006, 12:00 AM EDT) -- On the heels of Galvex Holdings Ltd. being converted to a Chapter 7 liquidation, Galvex Capital LLC has asked a Manhattan court to officially dismiss its Chapter 11 proceedings.

The steel maker filed papers in the U.S. Bankruptcy Court for the Southern District of New York on Monday, seeking to toss out the case since “no purpose is served by continuing this Chapter 11.”

In the motion, Galvex argued that its sole remaining asset is its claim against the Galvex debtors, which will require extensive litigation...
To view the full article, register now.