Calypso Wireless (fka CLYW)

[Cougar6]

I am not sure that lawsuits against the BOD for mismanagement are within the scope of what the receiver is allowed to do. Lawsuits for theft and fraud are a different matter but you have to consider the probability of actually getting paid.

A more interesting question is, can the receiver deny past BOD members any remunerations they think they deserve based on their damages to the company. Once the company actually has hundreds of millions of dollars you can bet that anyone once associated with this company will be making claims and filing court actions to get their slice of the pie ... even those who would have settled the T-Mobile suit for $5 Million or less. One of the many reasons why I doubt the shareholders will see any distribution of assets for quite some time.