Brooke Trustee Looks To Convert Cases To Ch. 7

Law360, New York (May 1, 2009, 12:00 AM EDT) -- The Chapter 11 trustee overseeing insurance agency Brooke Corp.'s bankruptcy has asked a judge to convert the proceedings to a Chapter 7, saying that there is no prospect of reorganization and that a settlement agreement with several securitization company creditors calls for the conversion bid.

Albert Riederer, who was appointed as Chapter 11 trustee for Brooke Corp., Brooke Capital Corp. and Brooke Investments Inc., asked Judge Dale Somers of the U.S. Bankruptcy Court for the District of Kansas to convert the jointly administered proceedings from Chapter...
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