Broadstripe Capital Moves Toward Liquidation In Ch. 7 Filing

Law360, New York (February 22, 2012, 9:42 PM EST) -- Broadstripe Capital LLC requested Wednesday that a Delaware bankruptcy court transfer its Chapter 11 bankruptcy proceedings to a Chapter 7, two months after the court approved the cable operator’s modified reorganization plan.

Capital and its subsidiary Broadstripe LLC filed voluntary petitions for bankruptcy protection in January 2009. According to its motion, the reorganization plan contemplated that Capital’s Chapter 11 case would eventually be converted to a liquidating Chapter 7 case.

“Because the debtor is a debtor in possession and because this Chapter 11 case was commenced...
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