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Malden Mills Ch. 7 Conversion Gets Boost

Law360 (March 30, 2007, 12:00 AM EDT) -- An attempt by the company formerly known as Malden Mills Industries Inc. to convert its Chapter 11 case to a Chapter 7 proceeding has won new support with a statement from its U.S. Trustee.

In an emergency motion to convert filed March 28, Trustee Richard T. King argued that the textiles manufacturer became ripe for conversion to Chapter 7 after being sold to private-equity firm Chrysalis Capital Partners and renamed OM Industries Inc.

“More specifically, the [U.S. Trustee] believes that since substantially all of the debtors’...
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