In re Patel

Case converted to chapter 7 due to diminution of estate, gross mismanagement and lack of rehabilitation potential.
Procedural posture: 
A corporation wholly owned by bankruptcy debtors owned and operated a convenience store which suffered declining revenues due to increased competition, and the debtors' expenses exceeded their income. A creditor moved pursuant to 11 U.S.C.S. § 1112(b) to convert the debtor's chapter 11 case to chapter 7 or to dismiss the case.
ABI Membership is required to access the full summary of In re Patel. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on August 23,2012, LexisNexis #1012-094