Money Centers CEO Says Ch. 11 Trustee Would Hurt Recovery
By Matt Chiappardi
Law360, Wilmington (April 22, 2014, 8:40 PM ET) -- Bankrupt casino check-cashing firm Money Centers of America Inc.'s CEO and sole director said Tuesday that allegations of mismanagement from creditors hoping to have a trustee appointed were inaccurate and that the court's assignment of an outside overseer would only squash potential recoveries.
During a second day of being questioned on the witness stand in Delaware bankruptcy court by the corporate commission of the Mille Lacs Band of Ojibwe, the Ho-Chunk Nation and the U.S. Trustee's Office, MCA Chairman and CEO Christopher Wolfington said that if...