Question
Chase, Inc. is in financial difficulty. it is in the middle of preparing a Chapter 11 filing; indeed, it has many of its creditors lied
Chase, Inc. is in financial difficulty. it is in the middle of preparing a Chapter 11 filing; indeed, it has many of its creditors lied up in support and has the outline of a Chapter 11 plain in the works. Chase plans to file on Monday. It is now the Friday before the plannd filing Monday, and Chase learns that tthree of its disgruntled unsecured creditors (are there any other kind?) have filed an involuntary Chpater 7 petition against Chase. Chase's management is in a dither; they don't want to liquidate. What can they do? See sections 303(d); 706(a); and Bankr. Rule 1017(f).
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