Carol L. Fox as Chapter 11 trustee filed a motion in the US Bankruptcy Court seeking the conversion of Golden Developing Solutions, Inc.?s bankruptcy case from Chapter 11 reorganization to Chapter 7 liquidation on July 9, 2024. The reason being that debtors have ceased operations and lack unencumbered assets due to which the trustee is unable to pay administrative claims, secured lenders, or unsecured creditors in these cases for which there is absence of a reasonable likelihood of rehabilitation.