N.D. Indiana, Hammond Division. Feb. 9, 1988.
Debtor is a development stage company.
Its principal business is the sale of Z-Impemix, a product originally intended for large scale toxic waste control, but now intended for use inside containers holding toxic materials and for other similar applications. While the involuntary petition was pending, Debtor filed a voluntary Chapter 11 bankruptcy petition in the Southern District of Texas on August 20, 1987. HITK and Toxic oppose the motion to transfer venue. This opinion constitutes findings of fact and conclusions of law under Rules of Practice and Procedure in Bankruptcy Rule 7052. The petitioning creditors acquiesced to the Chapter 11 approach and the case has been so adjudicated by separate order of this Court dated December 17, 1987.