Motion For Case Conversion Approved for HINTO Energy, Inc.
December 13, 2017 at 11:00 pm
The US Bankruptcy Court gave an order granting the conversion of Chapter 11 reorganization case of HINTO Energy, Inc. to liquidation under Chapter 7 on December 14, 2017. As DIP Loan commitment has been withdrawn and neither, the interim DIP Loan or the final DIP Loan will close. Without ongoing funding, it has become clear that debtor has no alternative but to liquidate its assets through a chapter 7 proceeding.