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Westech Capital Bankruptcy Plan Filed

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Westech Capital’s Chapter 11 trustee filed with the U.S. Bankruptcy Court a Chapter 11 Plan (as Corrected) and a Second Amended Disclosure Statement.

According to documents filed with the Court, “The Trustee has asserted claims against Salamone and other insiders for preferences and transfers arising from payments made to them and/or for their benefit after his employment contract expired.The Trustee is investigating and reserves all claims against Halder, and other insiders, for preferences and fraudulent transfers made at any time.”

In addition, “The Trustee is investigating claims against Jim Palotta, Peter Monaco, Raptor Group, Al Gordon, and Dan Zwirn connected with the Braver Stern transaction, and all rights to seek recovery on such claims are expressly preserved to the Revested Debtor. The Trustee is investigating claims against Mike Dura for breach of duty in connection with the retention and termination of James Fellus and all rights to seek recovery on such claims are expressly preserved to the Revested Debtor.”

Read more Westech bankruptcy news.

The post Westech Capital Bankruptcy Plan Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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