Creditors Battle Renew Energy Ch. 7 Conversion Idea

Law360, New York (March 4, 2010, 3:33 PM EST) -- Two banks and a group of creditors are battling a push by the receiver for bankrupt Renew Energy LLC's chief unsecured creditor to convert the case to a Chapter 7 liquidation — a result they say could be drastic for them and would undo months of progress toward their own liquidation plan.

The official committee of unsecured creditors filed an objection Wednesday urging the U.S. Bankruptcy Court for the Western District of Wisconsin to reject the move by Michael S. Polsky, the receiver for creditor Olsen’s...
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