Rooster Energy filed with the U.S. Bankruptcy Court a motion to convert its Chapter 11 reorganization case to a liquidation under Chapter 7.
The motion explains, “The Rooster Debtors have been unable to confect a Plan of Reorganization and do not believe such is possible at this point. Therefore, pursuant to the authority given the Rooster Debtors under Section 1112(a) of the United States Bankruptcy Code, the Rooster Debtors hereby move to convert their respective Chapter 11 cases to cases under Chapter 7 of this Title. Wherefore the Debtors pray that this Court enter an Order converting these cases to cases under Chapter 7 of this title.”
The Company also filed a motion seeking expedited consideration of the conversion motion to the extent that a hearing on the motion is necessary.
Read more Rooster Energy bankruptcy news.