In re Te-Kon Travel Court Inc.
Feb
08
2010
Ruling
Conversion to chapter 7 denied upon debtor's default under agreement with lenders but debtor was ordered to surrender property.
Procedural posture
Debtors filed petitions under chapter 11 of the Bankruptcy Code in February 2004, and they entered into an agreement with various lenders which required them to pay the lenders $ 50,033 per month for 12 months and to make a balloon payment on July 11, 2007. A bank that represented the lenders filed a motion to enforce the debtors' reorganization plan or, in the alternative, to convert their case to ones under chapter 7 of the Bankruptcy Code.
ABI Membership is required to access the full summary of In re Te-Kon Travel Court Inc. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: