Force 10 determined the creditors were better served by a Chapter 7 Trustee. The case was subsequently converted.
Chineseinvestors.com made its revenue from customers subscribing to their services. In 2017, the company decided to enter the cannabis and crypto business. These businesses proved to not be successful and in 2019, the company began scaling down those businesses. In 2020, the company filed a voluntary Chapter 11. Force 10 was hired by the Creditors Committee as their financial advisor to analyze the debtor’s financial projections, budgets, and key operating metrics, to develop financial projections and valuations to assess the feasibility of the company’s reorganization plans and business valuation, and to provide accounting investigations and evaluate solicited offers to purchase or invest in the company. Force 10 determined the creditors were better served by a Chapter 7 Trustee. The case subsequently converted.