The last paragraphs of Judge Laura Taylor Tentative ruling
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Message: The last paragraphs of Judge Laura Taylor Tentative ruling
Though the facts in the case at hand are somewhat different , the bankruptcy result is the same : this case will not result in Discharge, as Debtor is not entitled to one , and will not result in a distribution to creditors, as there are none.
The court understands that Debtors directors wants the case in chapter 7 , but the directors qua directors are neither creditors nor shareholders whose interest in the court must consider when considering dismissal under 704.And if the equities are considered , such factors appear to support dismissal.The directors seek to protect their own pocketbooks,they pay no heed to the economic burden they place on the Trustee.
Thus , the court is inclined to dismiss as there appears to be no legitimate bankruptcy purpose to be served. As a possible alternative , the PARTIES should be prepared to discuss procedures for streamlining this case and hastening completion as quickly and inexpensively as possible.
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