RHTC Liquidating Co. v. Union Pac. R.R. (In re RHTC Liquidating Co.)
Mar
05
2010
Ruling
Motion by monitor in debtor's Canadian insolvency case to dismiss involuntary case denied as not in best interests of petitioning creditors.
Procedural posture
Creditors filed an involuntary petition under chapter 7, seeking orders requiring a U.S. corporation that was a wholly-owned subsidiary of a Canadian corporation to liquidate its assets and pay creditors. A Monitor who was appointed to represent the U.S. corporation's interests in a bankruptcy case filed in a Canadian court filed a motion to dismiss the case pursuant to 11 U.S.C.S. § 305(a).
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Court
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