How to support motion in Ch. 11 Bankruptcy court?

[DBarnesTX]

What is the name of your state? Texas

Got an interesting "situation" on my hands...

I worked for a startup software company (Company 'A') in Dallas for several years. The company was unable to secure needed capital last fall and was forced into Ch. 11 bankruptcy 10/1/04. I am both a creditor, (back wages, proper claims have been filed with bankruptcy court), and a shareholder of this company.

Under bankruptcy protection, Company A was able to "shop" itself and found a willing acquirer in 11/04 that would pay off the creditors and actually return something to the common shareholders to the tune of roughly $1.20 a share. The deal was agreed to by all parties, including the Bankruptcy courts.

Since that time, the founder and majority shareholder has refused to cooperate and take the steps necessary to consumate the deal. (Did i mention that he's also mentally unstable?)

Currently, Company 'B', the acquirer, has filed a motion with the Bankruptcy court to remove the founder as CEO and appoint a trustee to consumate the deal. The hearing is set for 5/24.

As both a creditor and shareholder, I would very much like to throw my support behind the motion to appoint a trustee (as would most of the other creditors I am in contact with). Is this something I would have to hire an attorney to do, or are there "forms" or "papers" I can fill out myself and file with the Bankruptcy court?

Thanks in advance.

Ben Screwed

 

[edantes]

Good luck...this may help

State: CA
Your situation sounds similar to what I had...and you may come out
of it better than I did...
I hope your ex-boss and mine have adjoining pits in hell for what they've
done..

From what I went through...If your company is still in Chapter 11..you need
to gain control of the creditor's committee..
This will allow you to have a say into what will happen to you..the next
step is you need money..or if there is money in the estate, the
creditor committe needs to file a motion to have a trustee appointed and
remove this individual from the company...
You also want to have the committee go through the monthly
reports that should have been filed by the debtor-in-possesion
and if anything is amiss...get him thrown out of the company

Good luck

What is the name of your state? Texas

Got an interesting "situation" on my hands...

I worked for a startup software company (Company 'A') in Dallas for several years. The company was unable to secure needed capital last fall and was forced into Ch. 11 bankruptcy 10/1/04. I am both a creditor, (back wages, proper claims have been filed with bankruptcy court), and a shareholder of this company.

Under bankruptcy protection, Company A was able to "shop" itself and found a willing acquirer in 11/04 that would pay off the creditors and actually return something to the common shareholders to the tune of roughly $1.20 a share. The deal was agreed to by all parties, including the Bankruptcy courts.

Since that time, the founder and majority shareholder has refused to cooperate and take the steps necessary to consumate the deal. (Did i mention that he's also mentally unstable?)

Currently, Company 'B', the acquirer, has filed a motion with the Bankruptcy court to remove the founder as CEO and appoint a trustee to consumate the deal. The hearing is set for 5/24.

As both a creditor and shareholder, I would very much like to throw my support behind the motion to appoint a trustee (as would most of the other creditors I am in contact with). Is this something I would have to hire an attorney to do, or are there "forms" or "papers" I can fill out myself and file with the Bankruptcy court?

Thanks in advance.

Ben Screwed