Syms Examiner Fight Delayed For Ch. 11 Plan Talks

Law360, Wilmington (January 24, 2012, 9:27 PM EST) -- A Delaware bankruptcy judge on Tuesday postponed a hearing on Syms Corp.’s bid for an examiner to probe alleged misconduct by the defunct retailer’s management to allow for talks between the debtors and disgruntled minority shareholders on a Chapter 11 plan.

In December, Syms asked the court to tap the examiner so an independent party could weigh potential claims — first raised by shareholders — for breach of fiduciary duty and mismanagement against the clothing retailer’s directors and officers.

But an equity committee representing minority shareholders...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Filene's Basement, LLC


Case Number

1:11-bk-13511

Court

Delaware

Nature of Suit

Date Filed

November 2, 2011

Law Firms

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.