In re Prods. Intl Co.

Voluntary dismissal denied and chapter 11 trustee appointed due to improper transfers by majority owners to other entities they controlled.
Procedural posture: 
Debtor corporation filed a petition under chapter 11 of the Bankruptcy Code and operated as a debtor-in-possession. Five months after it filed its petition, the debtor filed a motion to dismiss its bankruptcy action, pursuant to 11 U.S.C.S. § 1112(b). A person (part owner) who owned an interest in the debtor opposed the debtor's motion and filed a cross-motion for appointment of a chapter 11 trustee.
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Commercial case opionion summary, case decided on September 02,2008, LexisNexis #1108-047