Judge Stays Case Over Point Blank Deregistration Plan

Law360, Wilmington (May 18, 2011, 9:25 PM EDT) -- A Delaware bankruptcy judge on Wednesday halted a New York suit against the CEO of Point Blank Solutions Inc. over plans to deregister the company, saying the litigation could disrupt the body armor maker’s reorganization at a delicate point in the case.

U.S. Bankruptcy Judge Peter J. Walsh issued a 90-day preliminary injunction against the suit, which takes issue with plans to deregister the company as an indirect condition of a settlement with the U.S. Securities and Exchange Commission on accounting fraud accusations.

“This case is...
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