>>not based on valuations, but something personal out of the UST's office. It's either that or the lawyers absolutely made some stuff up out of thin air (which happens all too often) and hoodwinked someone at the UST's office.
Couldn't disagree more - this was from my perspective a textbook example of a case where the US Trustee should appoint an EC, and that is just exactly what happened. AgFeed is 1) not hopelessly insolvent and 2) Mgmt is not necessarily looking out for the interests of equity (and I would say not having filed financials in two years satisfies that threshold)
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