Bankruptcy Judge Shields German IT Firm's US Assets

Law360, Wilmington (August 27, 2013, 7:44 PM EDT) -- A Delaware bankruptcy judge issued a temporary restraining order Friday to protect the U.S. assets of Reutax AG, a Germany-based information technology firm whose founder is facing criminal charges in that country for allegedly siphoning funds to purchase a Beverly Hills mansion and other luxuries.

Reutax began German bankruptcy proceedings in March and founder Soheyl Ghaemian, who resigned soon after, was arrested in Germany in June on charges of fraud, embezzlement and breach of fiduciary duties, according to court documents.

Tobias Wahl, the insolvency administrator and...
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