Date   : Thu, 11 Jun 1992 15:28:44 GMT
From   : micro-heart-of-gold.mit.edu!wupost!uwm.edu!linac!uchinews!ellis!gjw1@bloom-beacon.mit.edu (Gregory J. Watson)
Subject: Kaypro Liquidation

       From the New York Times business section, June 11, 1992.

{Start article}
_Judge's Conversion to Bring Kaypro Liquidation_

       A judge said he would convert the troubled Kaypro Corporation
from bankruptcy status, which affords the personal computer maker
protection from its creditors, to bankruptcy status, which calls for
the company to liquidate its assets.  Federal Bankruptcy Judge James
Myers said last week that he would convert Kaypro from Chapter 11 to
Chapter 7, which requires liquidation.

       Howard Justus, the trustee named by the court to oversee the
final operations, said little appeared to be left of the once
fast-growing computer maker to liquidate, particularly when compared
with claims against the company.  Mr. Justus estimated that total
claims reached $20 million.  "All that's left is the cleanup," he
said.  In the two years the company has operated under bankruptcy
protection, Kaypro built up $2 million more in debt, Mr. Justus said.
Under the law, the $2 million plus an additional $1 million in debt
accumulated during pre-bankruptcy would have had to have been repaid
in full before Kaypro could be reorganized.  (AP)
{End Article}

       Oh well, my Kaypro II'83 is officially an orphan now, along
with our three other slightly younger Kaypros.  A sad day.

                                       Gregory Watson
                                       gjw1@midway.uchicago.edu
                                       g-watson@uchicago.edu