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Spongetech Trustee Wants Case Converted To Ch. 7

By Nick Brown ( October 11, 2010, 6:39 PM EDT) -- The trustee for bankrupt Spongetech Delivery Systems Inc. has asked that the case be converted to a Chapter 7, saying there is "no possibility" of rehabilitation in the wake of alleged criminal securities violations by executives and the Section 363 sale of the company's primary manufacturing unit....

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