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District Judge Blocks Stay On Charys Reorganization

Law360 (March 16, 2009, 12:00 AM EDT) -- A federal district judge has upheld a ruling in the bankruptcy court denying a motion for an emergency stay on Charys Holding Co.'s joint plan of reorganization filed by the last remaining holdout opposing the plan, bringing the company one step closer to re-emerging from Chapter 11 protection.

Judge Gregory M. Sleet of the U.S. District Court for the District of Delaware ruled on March 10 that Troy D. Crochet, the principal of bankrupt Charys subsidiary Crochet & Borel Services Inc., did not meet the four...
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