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Choosing Between Chapter 7 and Chapter 11 as a Vehicle for Sale of Debtor's Assets

Excerpt: A sale of substantially all of the debtor's assets can be accomplished in either chapter 7 or chapter 11. This article examines the statutory restrictions, as well as the practical considerations, which drive the choice of whether chapter 7 or chapter 11 is chosen as the vehicle for...

Twinkie Maker Hostess Seeks Liquidation as Deal with Unions Breaks Down

NEW YORK - (Mealey's) Twinkie maker Hostess Brands Inc., which had been proceeding with a bankruptcy reorganization plan, moved in the U.S. Bankruptcy Court for the Southern District of New York on Nov. 16 for authorization to convert its proceeding to Chapter 7, which would result in liquidation...