NEC Trustee Sues Directors, Others Over Company's Demise

Law360, New York (December 5, 2012, 4:17 PM EST) -- The Chapter 7 trustee for NEC Holdings Corp. and a board member on Monday sued several current and former principals of the envelope maker in New York Supreme Court, accusing the group of putting their own interests ahead of the company, which led to its downfall.

The trustee and board member Joan Levy maintain that the board member defendants, as well as NEC’s former chief restructuring officer, consultant Stephen Gawrylewski, and his employer, Loughlin Meghji & Co., took advantage of NEC’s financial problems to obtain control...
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