Wisconsin Eastern Bankruptcy Court

PDF with attached Audio File. Court Date & Time [ 7/6/2016 11:02:17 AM ]. File Size [ 3288 KB ]. Run Time [ 00:06:51 ]. (Motion to Dismiss). (admin). (Entered: 07/07/2016)

Bankruptcy Case Terminated. (sko, Deputy Clerk) (Entered: 07/06/2016)

Order Granting Petitioning Creditors' and Debtor's Amended Joint Motion for Dismissal of Involuntary Bankruptcy Petition. (Related Doc # 12) (sko, Deputy Clerk) (Entered: 07/06/2016)

Amended Motion to Dismiss Case with Notice of Motion and Certificate of Service filed by Christopher J. Ahrens of Previant, Goldberg, Uelmen, et al. on behalf of Petitioning Creditors Building & Public Works Laborers Vacation Fund, Building Trades United Pension Trust Fund, Wisconsin Laborers Apprenticeship & Training Fund, Wisconsin Laborers Health Fund. Hearing scheduled 7/6/2016 at 11:00 AM at United States Courthouse at 517 East Wisconsin Avenue, Room 149, Milwaukee, Wisconsin. Objections due by 7/6/2016. (Attachments: # 1Notice of Amended Joint Motion # 2Proposed Order # 3Certificate of Service # 4Attachment to Certificate of Service) (Ahrens, Christopher) (Entered: 06/15/2016)

On June 8, 2016, the court held a hearing on the petitioning creditors' and alleged debtor's joint motion to dismiss this case ( 6). Attorney Christopher J. Ahrens appeared for the petitioning creditors and Attorney John Schreiber appeared for Corevac, LLC. The court noted that the Bankruptcy Code and Rules require notice to all creditors and a hearing on a motion to dismiss under section 303(j). Counsel informed the court that the list of creditors filed with the motion was provided by Corevac LLC, which satisfied the court that service was made on all creditors. The court explained that the purpose of the notice and hearing requirement before dismissal of an involuntary petition is to protect non-petitioning creditors, and also to ensure that there have not been any collusive settlements between the petitioning creditors and the debtor. The court observed that the motion to dismiss did not provide a reason for the request or refer to a settlement between the parties, so the court asked the parties to explain the basis for their stipulated dismissal motion. Attorney Ahrens stated that Corevac's counsel had been able to demonstrate to the petitioning creditors that the company could exist as a going concern outside of bankruptcy. Attorney Ahrens stated that the parties had not entered into a formal settlement agreement, but that a settlement agreement existed in principle and needed to be fleshed out. Because the court's role at this juncture is to ensure that any proposed settlement treats similarly situated creditors equally, the court requested that the parties file an amended joint motion for dismissal, which explains the rationale for the motion and includes either a copy of any formal settlement agreement that has been reached, or an outline of any tentative settlement terms (sufficient for the court and non-petitioning creditors to ensure that all similarly situated creditors will receive equal treatment). The amended motion should be served on all creditors with a notice of hearing, indicating that the hearing on the motion will be held on July 6, 2016 at 11:00 a.m. The court will await the parties' amended motion. An audio recording of the hearing is available on the docket. (mhb) (Entered: 06/10/2016)

PDF with attached Audio File. Court Date & Time [ 6/8/2016 2:31:25 PM ]. File Size [ 14416 KB ]. Run Time [ 00:30:02 ]. (Motion to Dismiss). (admin). (Entered: 06/08/2016)

Affidavit of No Objection/Response/Answer Filed by Petitioning Creditors Building & Public Works Laborers Vacation Fund, Building Trades United Pension Trust Fund, Wisconsin Laborers Apprenticeship & Training Fund, Wisconsin Laborers Health Fund (Re: 6Joint Motion to Dismiss Case )with Notice Objections due by 6/3/2016. (Ahrens, Christopher) (Entered: 06/07/2016)

Notice of Appearance and Request for Notice filed by Alleged Debtor Corevac, LLC (Schreiber, John) (Entered: 05/26/2016)

Correspondence filed by Lisa Marshall on behalf of Bootheel Rentals . (sko, Deputy Clerk) (Entered: 05/23/2016)

Notice of Appearance and Request for Notice filed by Petitioning Creditors International Union of Operating Engineers, Local 139, Wisconsin Operating Engineers Skill Improvement and Apprenticeship Fund, Joint Labor Management Work Preservation Fund, Operating Engineers Local 139 Health Benefit Fund (Buchko, Cynthia) (Entered: 05/23/2016)