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USA Synthetic Fuel Chapter 11 case to be converted effective Oct. 6
By Caroline Salls
Pittsburgh, Sept. 28 – USA Synthetic Fuel Corp.’s Chapter 11 bankruptcy case will be converted to Chapter 7, effective Oct. 6, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.
The motion also said the interests of all stakeholders would best be served by the conversion to Chapter 7.
“Given that the debtors have sold all of their assets of any meaningful value, have no business operations and do not have the resources necessary to propose and confirm a Chapter 11 plan, the debtors submit that conversion of these cases to cases under Chapter 7 of the bankruptcy code is necessary and appropriate,” the motion said.
Cincinnati-based USA Synthetic is a provider of clean energy systems. The company filed for bankruptcy on March 17, 2015 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 15-10599.
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