Monitor Co. Seeks To Wrap Up In Ch. 7

Law360, New York (July 15, 2013, 5:48 PM EDT) -- Bankrupt consulting firm Monitor Co. Group LP on Friday moved to convert its Chapter 11 bankruptcy case into a Chapter 7, saying that following the recent expiration of a transitional agreement covering its sale in January to Deloitte Consulting LLP, a Chapter 7 trustee can effectively wrap up the case.

Monitor, joined by the unsecured creditors committee and secured lender Caltius Partners IV LP, told a Delaware bankruptcy court that since there is no realistic prospect of the company’s rehabilitation, a Chapter 7 conversion is the...
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