Replies to post #54239 on Calypso Wireless (fka CLYW)

[Eli's Gone]

I think it's pretty much a given as he won't return the company to it's same deadlocked position...

a concern of mine is that this "receiver"-who will be tasked to direct operations-will find the company broke and unable to do so....so where does he go from there...

see para (b) here:

http://codes.lp.findlaw.com/decode/8/1/VII/226

(b) A custodian appointed under this section shall have all the powers and title of a receiver appointed under § 291 of this title, but the authority of the custodian is to continue the business of the corporation and not to liquidate its affairs and distribute its assets, except when the Court shall otherwise order and except in cases arising under paragraph (3) of subsection (a) of this section or paragraph (2) of subsection (a) of § 352 of this title.