Revstone Creditor Loses Bid To Convert Cases To Ch. 7
By Matt Chiappardi
Law360, Wilmington (September 16, 2013, 6:45 PM ET) -- A Delaware bankruptcy judge on Monday denied a request by Boston Finance Group LLC to convert the cases of two subsidiaries of debtor Revstone Industries LLC from Chapter 11 to Chapter 7 proceedings, ruling that conversion would soak up so much time and money that stakeholders' potential recoveries could be put at risk.
U.S. Bankruptcy Judge Brendan L. Shannon said that having the cases for the estates of auto parts makers Greenwood Forgings LLC and U.S. Tool & Engineering LLC turned into Chapter 7 proceedings...