Levitz Bankruptcy Converted To Ch. 7

Law360, New York (October 28, 2008, 12:00 AM EDT) -- A federal judge has ordered the bankruptcy case of Levitz Furniture Inc. holding company PLVTZ Inc. to be converted from Chapter 11 to Chapter 7, citing the lack of a workable disclosure plan and the absence of opposition from the debtor's attorneys.

PLVTZ Inc. must issue a final report in 30 days and list unpaid debt incurred during bankruptcy within 15 days, according to Judge Robert E. Gerber's Monday order in the U.S. Bankruptcy Court for the Southern District of New York.

Albert Togut of Togut...
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