Embattled Philadelphia firm Sacks Weston agreed to put an end to its Chapter 11 proceedings on Wednesday, a month after creditor Virage Capital sought a dismissal on the grounds that the petition was filed in bad faith as a means to delay trial and forum shop in an ongoing dispute between the two parties.
David Smith, the firm’s bankruptcy counsel, submitted a filing consenting to a dismissal of the firm’s Chapter 11 case, acknowledging expected difficulties in convincing creditors to confirm a bankruptcy plan.
