July 26, 2012

Gregory McCoskey was quoted in the Tampa Bay Business Journal article, "Bankruptcy Judge Orders Liquidation for Savtira," regarding the conversion of Savtira’s Chapter 11 filing, a voluntary effort to reorganize its finances, to a Chapter 7 case, or an involuntary liquidation. Savtira Corp. aimed to provide an online platform for the purchase and sale of digital media and physical goods.

McCoskey stated, "Chapter 7 generally will have an independent trustee appointed to marshal and liquidate a company’s assets. In Chapter 11, the debtor had the opportunity to reorganize their assets. That’s no longer the case."