5 Easy Facts About chapter 11 Described
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That new Management provided appointment of a whole new CEO and a few independent administrators into the board, pursuant to written consents drafted by Paul Hastings, the criticism said.
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Redwood claimed that litigation around the improper consents drained the organization’s remaining dollars, led to investor concern in regards to the board, and derailed its funding that resulted in it being forced to shut its doors and file for bankruptcy in July 2022 and liquidate its assets.
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