Date of Decision:
July 16, 2010
Whether a chapter 11 trustee should be appointed?
Appointment of a trustee was mandated because the movant established cause under 11 U.S.C. § 1104(a)(1). The cause shown included numerous pre-petition transactions, mostly in 2010, between and among Debtor and several related entities, involving substantial assets and liabilities and significant changes in equity positions, that Debtor was unable to satisfactorily explain or justify.
Full Bankruptcy Court Decision: