Citizens Corp. v. Tennessee Commerce Bank (In re Citizens Corp.)
Feb
27
2012
Ruling
Chapter 11 trustee appointed due to principal's withdrawal of funds from key subsidiary of debtor.
Procedural posture
Chapter 11 debtor filed an expedited motion for contempt and sanctions for violation of the automatic stay and an expedited motion for a preliminary injunction. Defendant lead lender filed a motion pursuant to 11 U.S.C.S. § 1104(a) for appointment of a chapter 11 trustee.
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Court
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