IdleAire Seeks Ch. 7 Conversion After Asset Sale

Law360, New York (April 13, 2009, 12:00 AM EDT) -- With the bulk of its assets sold to prepetition lenders and with IdleAire Inc. operating as a going concern, debtor IdleAire Technologies Corp., which provides products and services to truckers, has asked to convert the remainder of its bankruptcy case to a Chapter 7 liquidation.

The motion to convert, filed Thursday in the U.S. Bankruptcy Court for the District of Delaware, notes that the going-concern sale has been consummated and that the debtor has no resources to propose or confirm a plan of reorganization under Chapter...
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