Thompson v. Daluise (In Re Wet-Jet International, Inc.)

MEMORANDUM OF DECISION

HENRY J. BOROFF, Bankruptcy Judge.

Before the Court for determination is a “Motion to Dismiss or Convert Case to Chapter 11” (the “Motion”) and a consolidated Adversary Proceeding filed by the plaintiffs Mark A. Thompson (“Thompson”), Charles J. Coté (“Coté”), Larry L. Fisher (“Fisher”), and Ross Thompson (“R. Thompson”) (collectively, the “Plaintiffs” or the “Michigan Shareholders”). Defendants Daniel A. Daluise (“Daluise”) and Wet-Jet International, Inc. (“Wet-Jet” or the “Debtor”) (collectively, the “Defendants”) oppose the relief sought. The issue presented is whether…