There is a creditors meeting on June 13th. Not a court hearing, just a meeting where the US Trustee asks the debtor a bunch of questions about assets + liabilities under oath. There is a motion hearing scheduled for June 26th. Looks like First United (or whoever the largest creditor is, can't remember) filed a motion for change of venue to move the case to the Federal Bankruptcy Court in WV. From what I understand, these cases can drag on for awhile- the debtor has exclusive right to file their plan for reorganization for 120 days, but that time can be extended by the Court up to 18 months. Then after they file their reorganization plan, they have 2 months to get acceptance by the creditors of their reorganization plan- so if they get 18 month extension + 2 months to get approval, you are looking at 20 months. After that "exclusive" time is up, then the creditors are allowed to file their own plan. Additionally, at any point, a creditor can file a motion to convert the Chapter 11 into Chapter 7 and force liquidation- they have to show cause why it should be converted (or dismissed). Section 1112(b)(4) of the Bankruptcy Code sets forth numerous examples of cause that would support dismissal or conversion. For example, the moving party may establish cause by showing that there is substantial or continuing loss to the estate and the absence of a reasonable likelihood of rehabilitation; gross mismanagement of the estate; failure to maintain insurance that poses a risk to the estate or the public; or unauthorized use of cash collateral that is substantially harmful to a creditor. It seems like a creditor should be able to show cause for conversion in this case, but this isn't an area of law with which I am familiar, so I have no idea if a bankruptcy court judge would view Timberline's antics in the same way as the rest of us do. Also during the pendency of the case, the debtor is required to submit monthly reports re: operating costs, etc to the US Trustee, and if they fail to do so, that can be a basis for the US Trustee to seek conversion to Chapter 7 or dismissal altogether.
So that is a long way of saying, an actual resolution could happen relatively quickly if a creditor gets aggressive, or a long way off if Timberline is granted lots of extensions to file their plan with the court.