Fred is prohibited from any shareholder communication
The rules regarding bankruptcy are clear.
This is a Chapter 7 and the company has no assets, the shareholders will get nothing, the Lobel law firm hired by Fred is top shelf when it comes to BK, and the Trustee that has been appointed, Kipperman, is experienced and well-regarded.
IMHO the shareholders neither have the aptitude, the resources, NOR THE GROUNDS, to make any meaningful noise. Wherefore I expect affairs to be wound up quickly and cleanly without much of a whimper.
Fred and gang will be clean in a short period of time and will go on with their lives.
That's the goal of the lawyers (all paid with the EDIG checking account balance) and to a certain extent, the Trustee and the Courts, quick, clean and painless, like a non-impacted third molar by an experienced oral surgeon. Once the tooth is out, Fred and crew can move on to a new chapter in life- it's already underway and the lawyers have instructed Fred to refer any annoying shareholders directly to them.
It's over and hopefully a valuable, albeit expensive lesson was learned.
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