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Reading Time: 2 minutes A U.S. judge has dismissed Banq’s Chapter 11 bankruptcy filing, citing it as a “bad faith” move to avoid litigation The dismissal was motivated by evidence that the filing was intended to shield Banq’s executives from an ongoing lawsuit with a creditor The judge ruled that Banq’s intention was not to reorganize but to delay legal action against the company and its executives Banq…
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Judge Refuses Banq Bankruptcy Attempt
Reading Time: 2 minutes A U.S. judge has dismissed Banq’s Chapter 11 bankruptcy filing, citing it as a “bad faith” move to avoid litigation The dismissal was motivated by evidence that the filing was intended to shield Banq’s executives from an ongoing lawsuit with a creditor The judge ruled that Banq’s intention was not to