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Life Settlements Absolute Return’s Chapter 11 cases dismissed by court
By Caroline Salls
Pittsburgh, March 26 – Life Settlements Absolute Return I, LLC’s Chapter 11 cases were dismissed Thursday by the U.S. Bankruptcy Court for the District of Delaware.
The order said the Life Settlements debtors requested that the cases be dismissed.
The company’s asset sale order and its ability to dissolve will survive dismissal of the cases.
According to the motion filed on July 22, 2019, the Life Settlements debtors have no business to reorganize and nothing of value left in their estates that warrants the continuation of the Chapter 11 cases.
The company said conversion of the cases would have added another layer of administrative expenses that might have remained unpaid.
Life Settlements is a Greenville, S.C.-based insurance company. The company filed bankruptcy on Dec. 29, 2017 under Chapter 11 case number 17-13030.
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