The Honolulu Symphony's request to convert their Chapter 11 bankruptcy to a Chapter 7 bankruptcy was granted this morning by a U.S. bankruptcy judge. This means that the 110-year-old symphony will be able to close down and sell its remaining assets.

Lawyers for the symphony will appear in court on Monday to finalize the deal. At that time they will ask the judge for permission to change the Chapter 11 reorganization into a Chapter 7 liquidation. This type of bankruptcy status allows filers to sell of their remaining assets to go towards their debts; however, this means the end of a symphony that has been in existence for 110 years.

The Honolulu Symphony has been working under the auspices of a Chapter 11 bankruptcy for over a year. It is presumed that this type of bankruptcy was not conducive to their financial status at that time.

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