In re Eurospark Indus.
Mar
03
2010
Ruling
Chapter 11 trustee appointed due to conflict of interest on part of debtor in possession's sole shareholder.
Procedural posture
Debtor jewelry company filed a petition under chapter 11 in 1998, and was allowed to operate its business as a debtor-in-possession. The United States Trustee (UST) filed a motion for an order appointing a chapter 11 trustee, pursuant to 11 U.S.C.S. § 1104(a)(2) and (3). The debtor's largest secured creditor supported the motion; however, the debtor and its sole shareholder opposed the motion.
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Court
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