U.S. Trustee seeks dismissal of former Halt Medical’s Chapter 11 case

By Caroline Salls

Pittsburgh, May 16 – The U.S. Trustee overseeing HMI Liquidating, Inc.’s Chapter 11 case asked the U.S. Bankruptcy Court for the District of Delaware on Thursday to dismiss the case.

HMI Liquidating was formerly Halt Medical, Inc.

Acting Region 3 U.S. trustee Andrew R. Vara said the case “should be dismissed because the debtor has not only failed to file their monthly operating reports, the debtor has not file a plan or disclosure statement despite five extensions of the exclusivity period and without more, there appears to be a high likelihood of a substantial or continuing loss to or diminution of the estate and the absence of a reasonable likelihood of rehabilitation.”

A hearing is scheduled for June 4.

Brentwood, Calif.-based medical device company Halt Medical focuses on providing care for women with symptomatic uterine fibroids, including through its patented Acessa System. The company filed bankruptcy on April 12, 2017 under Chapter 11 case number 17-10810.

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