IN RE BGNX, INC.

Bankruptcy No. 86-00667-BKC-TCB.

76 B.R. 851 (1987)

In re BGNX, INC., f/k/a Biogenix, Inc., Debtor.

United States Bankruptcy Court, S.D. Florida.

July 6, 1987.


Attorney(s) appearing for the Case

Michael A. Frank, North Bay Village, Fla., for debtor.

Smathers & Thompson, Joel M. Aresty, Miami, Fla., for proponents W. Robert Morrow and Thomas Dyer.

Irving E. Gennet, Boca Raton, Fla., trustee.

Daniel L. Bakst, W. Palm Beach, Fla., for trustee.


ORDER DENYING CONFIRMATION AND CONVERTING CASE TO CHAPTER 7

THOMAS C. BRITTON, Chief Judge.

Two competing chapter 11 plans were before the court for confirmation on May 5. The matter has been under advisement pending analysis of the acceptances and rejections of the two plans. I conclude that confirmation must be denied with respect to each plan for reasons discussed below, and I also conclude that the trustee's motion (C.P. No. 102) for conversion of this...

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