Werner's Unsecured Creditors Bid For Chapter 7

Law360, New York (July 19, 2007, 12:00 AM EDT) -- Werner Holding Co. Inc.'s unsecured creditors have asked the court overseeing the company's bankruptcy to convert the cases to Chapter 7, claiming that Werner lacks the necessary assets to confirm and implement a Chapter 11 plan.

On Wednesday, Werner's official committee of unsecured creditors filed a motion asking U.S. Bankruptcy Judge Kevin J. Carey to convert the debtors' cases to Chapter 7, saying the debtors have no viability as a going concern and inadequate liquidity with which to wind down their estates and confirm a Chapter...
To view the full article, register now.