In re Patel

Ruling: 
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.
Issue: 
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Consumer case opionion summary, case decided on August 23,2012, LexisNexis #1012-094