Cloud Computing Co. Nirvanix Converts Case To Ch. 7

Law360, Wilmington (February 27, 2014, 8:00 PM EST) -- A Delaware bankruptcy judge on Thursday granted Nirvanix Inc.'s motion to convert its case to Chapter 7 in order to reduces costs, a request the cloud computing company made after failing to sell all its assets in Chapter 11.

San Diego-based Nirvanix entered Chapter 11 in October, seeking to auction its assets in two separate lots, but managed to find a buyer for only one of the parcels. 

After that deal won court approval in November, the company contemplated proceeding with a Chapter 11 liquidation plan,...
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