Once you are in control you can do whatever you want. The trustee did not act in the company nor the shareholders best interest. He was basically on order-taker and the toxic financiers had their way with him. He refused to attend court motions and to defend the company position threatening to quit.
We should have used a more pro Active shareholder Advocate type trustee however in hindsight we thought that this firm would have done the job a lot better than they did.!!
If you do want to purchase the company we can recommend you to a proactive shareholder Advocate type barrister who can deal with the chapter 11 reorganization on the much better way.
The company has a very good positive and massive following. We financed the entire chapter 11 ourselves without issuance of any shares whatsoever. At this point we are just looking to get our money back and move on to other projects.
Interstate is very cooperative and they have a sizable mergers lined up with revenues in the 15 to 30 million dollar range and assets of similar.
The potential is huge here for the right individual. We will need a proof of funds and ndaa signed for any further information which you may need.
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