Trustee Seeks Conversion of Drywall Defendant's Bankruptcy

TAMPA, Fla. - A U.S. Trustee assigned to the Chapter 11 reorganization of a Florida drywall supplier is seeking court approval to convert the bankruptcy to Chapter 7 status, just as Chinese drywall plaintiffs moved to extend the deadline for filing late proofs of claim against the company. In re: Black Bear Gypsum Supply Inc., No. 07-07120 (M.D. Fla. Bankr.).

In a motion filed June 30 in U.S. Bankruptcy Court for the Middle District of Florida, U.S. Trustee Donald F. Walton argued that because Black Bear Gypsum Supply Inc. appears to be unable to confirm or consummate a reorganization plan, …