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| | 04/30/2012
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| | Scoop
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| | [Actually 4/23/2012]: The May Report: 4/23/2012: Bulletin: In the story that never ends, there's a significant wrinkle in the Efoora case: A corporation in Illinois has five (5) years to "wind down" but a Delaware corporation has only three (3) years, and the Efoora filing was three months late under Delaware law, which would invalidate the bankruptcy; If Judge Goldgar grants the motion to dismiss bankruptcy proceedings for lack of jurisdiction, filed Friday afternoon by Stephen Brown and David Giangrossi of Schuyler Roche and Crisham, PC, we would no longer be in bankruptcy court and the case would possibly revert back to the receivership status under Ira Bodenstein, but I have no idea what might happen; Judge Goldgar could decide to go ahead with the evidentiary hearing (I just don't know the law); This could turn out to be a situation in which the shareholders benefit from the foul up; also, word is that David Grosky has prostate cancer, and the rumor is that's it is severe; no news on Craig Rappin or Mel Dokich
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| | April 23, 2012
The May Report: 4/23/2012: Bulletin: In the story that never ends, there's a significant wrinkle in the Efoora case: A corporation in Illinois has five (5) years to "wind down" but a Delaware corporation has only three (3) years, and the Efoora filing was three months late under Delaware law, which would invalidate the bankruptcy; If Judge Goldgar grants the motion to dismiss bankruptcy proceedings for lack of jurisdiction, filed Friday afternoon by Stephen Brown and David Giangrossi of Schuyler Roche and Crisham, PC, we would no longer be in bankruptcy court and the case would possibly revert back to the receivership status under Ira Bodenstein, but I have no idea what might happen; Judge Goldgar could decide to go ahead with the evidentiary hearing (I just don't know the law); This could turn out to be a situation in which the shareholders benefit from the foul up; also, word is that David Grosky has prostate cancer, and the rumor is that's it is severe; no news on Craig Rappin or Mel Dokich
Editor and publisher: Ron May, ron@themayreport.com, ronaldmay@aol.com,www.themayreport.com, 773-525-3944.
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The Scoop section:
-- Briefly noted, Ron May
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The Scoop section:
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Briefly noted, Ron May
* I have no time for anything this morning so I can get down to court on time. The hearing starts at 10:30am.
Fortuitously, what at first appears to be a screw up could end up being a lucky thing for Efoora shareholders, who as equity holders, are often far down the list in a bankruptcy case.
This could turn out to be a situation in which the shareholders benefit from the foul up.
Bulletin: In the story that never ends, there's a significant wrinkle in the Efoora case: A corporation in Illinois has five (5) years to "wind down" but a Delaware corporation has only three (3) years, and the Efoora filing was three months late under Delaware law, which would invalidate the bankruptcy; If Judge Goldgar grants the motion to dismiss bankruptcy proceedings for lack of jurisdiction, filed Friday afternoon by Stephen Brown and David Giangrossi of Schuyler Roche and Crisham, PC, we would no longer be in bankruptcy court and the case would possibly revert back to the receivership status under Ira Bodenstein, but I have no idea what might happen; Judge Goldgar could decide to go ahead with the evidentiary hearing (I just don't know the law) also, word is that David Grosky has prostate cancer, and the rumor is that's it is severe; no news on Craig Rappin or Mel Dokich
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