If you read it carefully it is clear why he resigned.
He is turning down this work because he is admitting that there is no money available to do anything and at the present time forward progress can't be made because he is spending all this time and effort dealing with the noise.
Instead of focusing on the business issues he is engaged in an issue because the SEC had first identified him and now the Trustee has. he felt it easier to move forward by bringing in somebody the SEC did not identify to remove the BS about impartiality.
I agree totally. On its merits, this one has not one positive thing to offer to avoid chapter 7 IMO. In spite of moskofrauds frivolous scare tactic lawsuit against Spongeables, the numbers revealed so far show that the spongeables CEO was right.. Its a sponge business with a massive debtload
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