Opus South asks court to convert case to Chapter 7 for liquidation

By Caroline Salls

Pittsburgh, Aug. 24 - Opus South Corp. has asked the U.S. Bankruptcy Court for the District of Delaware to convert its Chapter 11 bankruptcy case to Chapter 7 for liquidation, according to a Monday court filing.

The company said it does not have assets that would generate enough value to fund a plan process and pay claims.

As a result, the company said the case should be converted to allow a Chapter 7 trustee to use any remaining assets to prosecute any potential causes of action, liquidate remaining assets and make any available distribution to creditors.

Opus, an Atlanta-based design-build development firm, filed for bankruptcy on April 22, 2009. Its Chapter 11 case number is 09-11390.

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