US Department of Justice Asks Judge to Toss RD Reorganization

The United States Trustee Program, a component of the US Department of Justice, has asked a judge to convert the Reagor-Dykes bankruptcy case from reorganization to liquidation.

KAMC News reports that January 7th was suggested as the cutoff date for a plan on Reagor-Dykes' reorganization to be approved or it will be stopped.

Court records say that debtors have "been in bankruptcy collectively for 496 days and have been unable to confirm a plan."