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Ch. 11 Examiner Will Look At Cred Inc. Shenanigans
Law360 (December 18, 2020, 10:04 PM EST) A Delaware bankruptcy judge on Friday said he will appoint an examiner to look into pre-Chapter 11 shenanigans at cryptocurrency investment platform Cred Inc., but added that management changes have made it unnecessary for a trustee to take control.
After two days of virtual hearings, U.S. Bankruptcy Judge John Dorsey agreed with the U.S. Trustee s Office that an examiner was needed to investigate Cred s past business dealings, but also found that the company has made a clean-enough break with its pre-Chapter 11 management that the office s request for a trustee to take over the case was unnecessary.
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