MEMORANDUM
MERRITT S. DEITZ, Jr., Bankruptcy Judge.
The question here is whether to permit the continuation of a Chapter 11 proceeding for the sole purpose of preserving a substantial but remotely contingent asset in the form of a tax attribute, an $840,000 net operating loss carry-forward.
Ironsides, Inc., once a manufacturer of high-quality steel-belted automobile tires, filed its Chapter 11 petition in October, 1982. Largely due to successful...
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