Empire Land's Ch. 11 Converted To Ch. 7

Law360 (December 9, 2008, 12:00 AM EST) -- A judge has ordered the bankruptcy case of development company Empire Land LLC to be converted from a Chapter 11 to a Chapter 7 after a committee of unsecured creditors questioned a $17.5 million transfer made to a nondebtor affiliate and expressed doubts about Empire's ability to maintain operations.

In an order signed Monday in the U.S. District Court for the Central District of California, Judge Meredith A. Jury converted the case and appointed Richard K. Diamond as the interim trustee to oversee the liquidation of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.