The U.S. Bankruptcy Court issued an order converting T3M’s Chapter 11 reorganization to a liquidation under Chapter 7.
As previously reported, on September 20, 2017, the Court conditionally approved case conversion and explained, “If the Debtor does not file a sale procedures motion (the ‘Procedures Motion’) by 5:00 p.m. Pacific Time on September 21, 2017, the Debtor’s chapter 11 case shall be converted to a case under chapter 7 of the United States Bankruptcy Code without an opportunity for further argument or briefing and the UST shall appoint a chapter 7 trustee.”
A Chapter 7 trustee has not yet been assigned. Both the U.S. Trustee assigned to the case and Lender Collections sought the conversion order.
This electric vehicle manufacturer filed for Chapter 11 protection on May 15, 2017, listing $2.5 million in pre-petition assets.
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