Quote:
Originally Posted by LMH
I would think the gov couldn't sell any assets until there was a conviction.
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Much more complicated than that. It is very common when the SEC slams you with a federal receivership order to hit back with a bankruptcy filing -- for a myriad of reasons. Suffice to say that purchasing assets out of federal receivership is not for the faint of heart -- if Mr. Chesnut is really serious about doing it he should retain one of the larger Dallas/Houston firms that have an established bankruptcy and insolvency practice group. Fulbright & Jaworski comes to mind, so does Vinson & Elkins.