CompuServe Messages

>> [The trustees'] ONLY job is to .. obtain the best deal they can for the creditors .. Undoubtedly true in this case. But what many of us, as spectators, wonder is: what happens if they do a lousy job? Say, dragging out a liquidation proceeding so that: (a) the recovered value is much less than it would have been with prompt action; and (b) the liquidators' fees are greatly increased? The liquidators appear to report only to the Bahamian Supreme Court, not to the creditors. The creditors, in turn, could place arguments before that court that things are not proceeding in their best interests, but to what avail? Courts everywhere proceed at their own leisurely pace, and placing new arguments before them rarely speeds up their activities. So we sit here, as spectators/victims, and wonder: who's got the buck? If it's the liquidators, they hardly seem to have been deporting themselves in a fashion intended to "obtain the best deal they can for the creditors". And we see no visible signs of anyone saying, "LET'S GET MOVING". It's understandable that owners might be tempted to say, "Isn't there anything WE can do to light a fire under those (with all due respect) DONKEYS? –Jim