The bankruptcy of the development company behind the Westport Waterfront project can move forward as a Chapter 11 reorganization.
U.S. Bankruptcy Judge Robert A. Gordon's order allowing the conversion from Chapter 7 to Chapter 11 was entered Monday.
Liquidation of a company's assets is standard under Chapter 7 bankruptcy. Under Chapter 11, a trustee is typically appointed to oversee the development of a repayment plan for outstanding debts.
A creditors meeting has been scheduled for April 10 at 10 a.m.