Consumer Lender Says No Trustee Needed In Its Ch.11
Counsel for consumer lending company Eventide Credit Acquisitions told a Texas bankruptcy judge Wednesday that a Chapter 11 trustee does not need to take over its bankruptcy, arguing the unsecured creditors committee is using its motion for the appointment of a trustee as a tactic to derail a November trial on claims from borrowers.
At an all-day hearing in Fort Worth before U.S. Bankruptcy Judge Mark X. Mullin, debtor attorney Jeff Prostok also asserted that the creditors committee hasn’t been able to present evidence of mismanagement, fraud, dishonesty or incompetence since the lender filed for Chapter 11 protection in 2023.
The committee is represented by Gary H. Leibowitz, H.C. Jones III, J. Michael Pardoe and Ian R. Phillips of Cole Schotz P.C.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication. No aspect of this advertisement has been approved by the highest court in any state.
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