IYXI, whats interesting is that in article from post #141450, it states that he was able to make priority claim/ debtor in possesion in Ireland, etc and that it would not likley happen in U.S bc of strict chapter 11 rules etc. However doesnt the JUly 12th PR go in his favor,
"Inyx Chairman & CEO Jack Kachkar Approved as Debtor-In-Possession"
Ohhh is that why the big interest here. Something happened that can be preety good from ruling going his way?
"The bankruptcy court has already allowed him to take a first step in that direction: he was allowed to provide debtor-in-possession financing to Inyx and now has a priority claim to all of its assets, over the objection of Westernbank. However, while such a strategy may have worked in Ireland, it is unlikely that it will work under chapter 11. Scrutiny of pre-bankruptcy activities is very strict in the U.S., and scores of executives have gone to jail, often when their misdeeds were revealed after a bankruptcy filing. Just think of the Rigas family, Bernie Ebbers (30 years!), Dennis Kozlowski or probably soon Lord Black as examples. Many investors bought Inyx stock after Kachkar’s buyout proposal under the assumption that a buyout stops detailed scrutiny of related-party transactions and is preferred by managers to chapter 11 filings"
