NetVersant Gets Green Light To Convert To Ch. 7

Law360 (May 4, 2009, 12:00 AM EDT) -- Unable to fund an exit plan and continue as a going concern, bankrupt NetVersant Solutions Inc. has been given the go-ahead to convert its Chapter 11 case to a Chapter 7 proceeding.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware issued an order Thursday approving NetVersant's request for conversion. A Chapter 7 trustee was appointed Friday.

The Houston-based network infrastructure company sought to convert to Chapter 7 in a motion March 31, saying it had insufficient resources to fund its...
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.