Lithium Technology Corporation (LTHUQ)

[Gbathat]

http://emcgazette.com/robert-kasprzak-candidate-for-th-district-judge-p3509-194.htm


That break was short-lived however, as I was approached in September of 2014 to accept an engagement as the Chief Restructuring Officer/Managing Officer of Lithium Technology Corporation, a Virginia-based publicly-traded company with assets consisting predominately of a German-based lithium battery manufacturer, in a Chapter 11 bankruptcy proceeding in the Eastern District of Virginia. I agreed and was duly appointed by the bankruptcy court in November of 2014. As CRO/MO, my duties primary involved operational management and decision making for the company, governance and proper reporting to the bankruptcy court and the Securities Exchange Commission, negotiation with the debtor-in-possession financier, negotiation and responsibility on behalf of, and in the best interests of, the company’s creditors and equity holders in the structure and design of the restructuring plan, and litigation coordination and strategy planning with the company’s bankruptcy counsel. Ultimately, the reorganization plan was not successfully implemented, and the debtor-in-possession funding was discontinued, so the court converted the bankruptcy proceeding from a Chapter 11 reorganization to a Chapter 7 liquidation in June of 2015, and, when the Chapter 7 trustee was thereafter appointed, my role was rendered moot.