Boles v. Turner (In re Enivid Inc.)
Mar
16
2007
Ruling
Plan trustees not entitled to injunction preventing prosecution and settlement of securities class action cases against debtor's officers and directors.
Procedural posture
Pending were Motions for Preliminary Injunctions filed by plaintiff plan trustees. Pending also was a related joint motion for entry of an order to the extent necessary, approving the use of the director and officer policy proceeds to fund a securities litigation settlement preliminarily approved by the district court, filed by, inter alia, former officers and directors of a debtor. The trustee of one of the debtors opposed the joint motion.
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Court
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