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Lloyd, who has power of attorney, has managed the debtors’ businesses based on the bankruptcy reorganization plans.But Kent Lindemuth “has progressively undermined Lloyd’s authority by representing to the debtors’ vendors, lessees, potential lessees, and others that he is in control of the debtors’ businesses and properties,” Vikki Lindemuth wrote in support of appointing a trustee.
Whether it is Hostess Brands—with the future of Twinkies at risk, the prospect of iconic Kodak in the Bankruptcy Court or AMR Corp.’s flight into Chapter 11 reorganization.
Chapter 11 usually makes it to the news when large corporations fall into financial distress and need bankruptcy relief.
Corporations that have filed Chapter 11 include General Motors, United Airlines, Lehman Brothers, and K-Mart.
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