I'd say the potential return wasn't worth the investment of his time and effort.
Why did Hays quit?
Case No. 10-13647(SMB)
NOTICE OF RESIGNATION OF TRUSTEE
PLEASE TAKE NOTICE that S. Gregory Hays, the Chapter 11 Trustee (“Trustee”), in the above-referenced case, hereby resigns his position as Trustee as set forth in the resignation letter attached hereto as Exhibit “A.” The Trustee believes his resignation is in best interest of creditors and shareholders of this case. The Trustee has notified the United States Trustee of his intention to resign and is informed that the United States Trustee is actively seeking a replacement chapter 11 trustee.]