Friday, April 20, 2007

Trustee: O'Sullivan officials not living up to agreement

O'Sullivan officials have not lived up to the terms of their bankruptcy plan and should not be released from the bankruptcy court's jurisdiction, the U. S. trustee for the case said in documents filed today in U. S. Bankruptcy Court for the Northern District of Georgia.
The document says the company has failed to pay $21,500 it ownes to the U. S. trustee, and it has failed to submit any of the required monthly operating reports since February:

"The Debtors’ failure to pay outstanding United States Trustee’s fees constitutes a breach under the terms of the Confirmed Plan which renders the Debtors ineligible for a final decree and constitutes cause for conversion or dismissal of these cases."

The trustee asked that O'Sullivan officials' motion to be released from the bankruptcy court's jurisdiction be denied.

1 comment:

Anonymous said...

At this point, why would it matter to the company?