Water contractor bankruptcy converted to ch. 7

By Humberto J. Rocha (April 1, 2022, 8:17 p.m. EDT) – A Delaware bankruptcy court has converted water contractor Team Systems International LLC’s Chapter 11 bankruptcy to a Chapter 7 liquidation, finding that it had failed to act in good faith during the district court and bankruptcy proceedings.

In an opinion issued Wednesday, U.S. Bankruptcy Judge Craig T. Goldblatt sided with the contractor’s two suppliers, GPDEV LLC and Simons Exploration Inc., and the U.S. trustee’s bid to reject or convert the bankruptcy case. The judge opted for the latter, finding that TSI and its members had engaged in questionable conduct in the bankruptcy case and related litigation in federal court in Florida….

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

Comments are closed.