Ryan International Gets OK For Ch. 7 Conversion

Law360, New York (March 1, 2013, 1:27 PM EST) -- An Illinois federal judge on Thursday agreed to convert the Chapter 11 bankruptcy of the government air transport Ryan International Airlines Inc. into a Chapter 7 liquidation after the company failed to find a new investor and sold off its remaining its brand and stock to AJet Holdings LLC.

U.S. Bankruptcy Judge Thomas Lynch agreed to convert the case to Chapter 7, one week after approving a plan for AJet to pay $800,000 to acquire all of Ryan's stock as well as its name, goodwill and...
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