Tuesday, February 15, 2022, 7:22 pm
News Flash Archive
Today the bankruptcy judge signed off on three motions made by Express Grain's lawyer Craig Geno in court to withdraw key motions previously filed by EG.
The motions by Geno appear to have been made orally in front of the judge today, although no docket entry appears so far describing the nature of any hearing that might have taken place.
EG had previously asked the Court to authorize payment of pre-petition bills owed to Gresham Petroleum in the amount of $245,907.38. EG uses large quantities of propane and diesel fuel to process its grain, and EG believed that paying this particular creditor off would ensure that it could continue to do business with Gresham, which provided substantially better pricing than other possible vendors.
This motion to pay Gresham was filed early in the bankruptcy case on October 27, 2021.
But now EG has withdrawn the motion to pay Gresham early.
Another motion withdrawn by EG today was to borrow $30 million more from UMB Bank to finance continued operations. Many creditors had filed objections to such a scheme, as reported here: Express Grain wants to borrow another $30 million
Finally, EG today withdrew its motion to pay its attorney Craig Geno $252,445.65 in legal fees and costs. See our reporting about this fee request here: Express Grain bankruptcy lawyers ask for $252,445.65 in legal fees and costs
It is not clear why these three requests were withdrawn by EG. Craig Geno is still representing EG according to the court docket. The request to borrow $30 million seemed to be dead anyway, given the negative comments by the court regarding continuing operations past the end of this month.
Also, depositions of John Coleman and Dr. Michael Coleman were scheduled to take place today, but there is no word in the court records whether those depositions actually occurred.
John Pittman Hey
The Taxpayers Channel
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