MSD Performance asks court to convert bankruptcy case to Chapter 7

By Caroline Salls

Pittsburgh, May 15 - MSD Performance, Inc. asked the U.S. Bankruptcy Court for the District of Delaware to convert its Chapter 11 bankruptcy case to Chapter 7, according to a Thursday court filing.

The company said the sale of substantially all of its assets closed on Dec. 16.

As a result, MSD said it has now liquidated or otherwise disposed of substantially all of its assets.

"While the debtors have taken several steps since the closing the sale to wind up their estates, at this point the debtors do not believe that their estates will continue to benefit by remaining in Chapter 11," the motion said.

A hearing is scheduled for June 5.

MSD Performance, an El Paso-based maker of performance auto products, filed for bankruptcy on Sept. 6, 2013. The Chapter 11 case number is 13-12286.

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