By Vince Sullivan (Oct 5, 2021, 6:40 p.m. EDT) – Asset management firm Medley LLC will return to Delaware bankruptcy court on Wednesday to present its case for confirmation of a Chapter 11 liquidation plan after the court that presided over the business case raised questions about how the debtor spent money during his bankruptcy.
In a virtual hearing Tuesday, Judge Karen B. Owens of the Delaware District Bankruptcy Court said she was uncomfortable with her understanding of how funds have flowed from Medley since. the start of his bankruptcy case, in particular the payments made to company insiders employed at Medley Capital LLC – the non-debtor operating subsidiary …
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