U.S. Trustee for former WIS case drops motion for case conversion

By Caroline Salls

Pittsburgh, Oct. 12 – The U.S. Trustee overseeing the bankruptcy case of SIW Holding Co., Inc., formerly WIS Holding Co., Inc., has withdrawn its motion for conversion of the case to Chapter 7 from Chapter 11, according to a notice filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The official committee of unsecured creditors appointed for the Chapter 11 case also objected to the conversion motion on Thursday.

The committee said in its objection that acting Region 3 U.S. trustee Andrew R. Vara argued that the case should be converted “so that a Chapter 7 trustee can investigate and prosecute estate causes of action and efficiently distribute estate assets to creditors” because no official committee had been appointed at the time of the motion to determine whether causes of action exist.

“Since the U.S. Trustee filed the motion, however, the U.S. Trustee appointed the committee,” the objection said. “For that reason, the motion is moot.”

San Diego-based WIS Holding and its operating subsidiaries provided outsourced physical inventory verification and retail merchandising services throughout the United States and internationally. The company filed bankruptcy on July 2 under Chapter 11 case number 18-11579.

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