Malden Mills Ch. 7 Conversion Gets Boost

Law360, New York (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’...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.