Cred Inc. Subsidiary's Ch. 11 Case Survives Dismissal Bid

Law360 (February 3, 2021, 7:48 PM EST) -- A Delaware bankruptcy judge denied a motion on Wednesday seeking to dismiss the Chapter 11 case of a wholly owned subsidiary of cryptocurrency investment firm Cred Inc., saying the former director who sought the dismissal didn't have the authority to have the case tossed.

U.S. Bankruptcy Judge John T. Dorsey denied the motion to dismiss subsidiary Cred Capital Inc.'s Chapter 11 case, finding that former director James Alexander's motion wasn't supported by the facts surrounding the incorporation of the company upon which he relied.

Alexander argued in his motion that he was the only person who could authorize Cred Capital's bankruptcy...

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