Final Chapter (?)

Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York granted NYC OTB's request to terminate its Chapter 9 bankruptcy filing. “OTB has ceased operations and has concludedall efforts to seek confirmation of [a reorganization plan].....The debtor argues that because no other party may propose a plan of debt adjustment in OTB’s case, continuation of a chapter 9 case serves no purpose. The court agrees.”