BioNitrogen Holdings Corp. (BIONQ)

[TFletcher]

That might be the case, peafunke, but it's also possible that it's another cost-cutting measure.
There will be little if any money available to pay directors.
Sabinson, for example, has served his purpose and gathered whatever evidence there is concerning any misconduct.
Anyone coming to the rescue with new money will want their folks on the board.
Board changes are common in the Chapter 11 process.