appointment

On November 13, 2015, Judge Laurie Selber Silverstein of the Delaware Bankruptcy Court ruled on an emergency motion to appoint a trustee.  Unfortunately for the movants, it is hard to argue it is an emergency when the debtor is almost out of cash, but has been running on fumes for the last several years with a massive equity cushion.  The “Opinion” is available here.

Directors appointing administrators under paragraph 22(2), Schedule B1, Insolvency Act 1986 must give notice of intention to appoint to the company (pursuant to paragraph 26(2), Schedule B1, Insolvency Act 1986 and Rule 2.20(2)(d), Ins