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...
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Case Information

Case Title

Filene's Basement, LLC


Case Number

1:11-bk-13511

Court

Delaware

Nature of Suit

Date Filed

November 2, 2011

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