Summit Global Trustee Seeks Ch. 7 Conversion

Law360, New York (October 21, 2008, 12:00 AM EDT) -- The U.S. trustee in Summit Global Logistics Inc.'s Chapter 11 case has filed a motion to convert the case to Chapter 7, citing the company's failures to form a creditors committee and file monthly reports, the absence of managing officers and the lead counsel’s requested withdrawal from the case.

The trustee said there was not a singular cause for the conversion and expressed doubt that the company would be able to successfully emerge from Chapter 11.

“Substantial losses, diminution of the estate and the absence of...
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