Chapter 11 - Chapter 7 - Chapter 11

Need some advice on some complicated bankruptcty case.

First some background info:debtor had filed for voluntary Chapter 11 Petition but the case was recently converted to Chapter 7 and at the same time the Chapter 11 Petition was dismissed because:

1. The value of the debtor's property had significantly decreased to where the security interest that the debtor's major creditor had in the property was being.
2. Judge felt that the debtor did not have a likely chance for recovery.

So order was entered for dismissal of Chapter 11 petition and at the same time it was converted to Chapter 7. The secured creditor in the property commences foreclosure proceedings.

At the same time, the debtor immediately files a motion to dismiss the Chapter 7 order...this motion is also supported by the us trustee whose decision is that since the court determined that there is no more equity in the debtor's property other than the security interest that one creditor had, there is no additional equity to distribute to unsecured creditors. Reason for filing the motion to dismiss Chapter 7 order is because debtor plans to file a new Chapter 11 Petition based on the following facts:

1. Although late, debtor finally has the basis for a successful reorganization because of a partnership with another corporation.

2. Filing the new Chapter 11 Petition would also stop the foreclosure proceedings by the secured creditor.

Question is - since the motion to dismiss the Chapter 7 order is not approved yet by the Judge and the foreclosure of debtor's property is with in a few weeks:

1. Can a majority of the debtor's other creditors (besides the creditor commencing foreclosure proceedings)file a new Chapter 11 Petition for the debtor even though the motion for dismissal of the Chapter 7 order is not granted by the Judge yet? (If the secured creditor is allowed to succeed in foreclosing the property, other creditors would not get any payments because the property is vital for the debtor to generate future income together with its new partner to pay off the other creditors.)

2. Can debtor file any other motions so that the Judge would make a speedier ruling before the foreclosure date?

Your advice or insight on these matters would be greatly appreciated.

thank you