BehindMLM: Trustee Investigation Begins…….

TelexFree Trustee investigation begins, subpoenas incoming

telexfree-logoFantasies about a restructuring and return to business by TelexFree grow dimmer by the day, with news now that the TelexFree Trustee is investigating the company in earnest.

Filed on June 12th, Stephen Barr has asked Massachusetts Bankruptcy Court for permission to issue subpoenas on

  • PriceWaterhouseCoopers, LLP (former advisors to TelexFree)
  • William H. Runge (TelexFree’s Chief Restructuring Advisor) and his company Alvarez & Marsal (sic) North America, LLC (financial advisors to TelexFree)
  • Kurtzman Carson Consultants, LLC (TelexFree’s claims and noticing agent)
  • the law firm Gordon Silver (co-counsel to TelexFree)
  • the law firm Greenberg Traurig, LLP (co-counsel to TelexFree)

In addition to the issuing of subpoenas, Barr seeks to “obtain” [Continue reading…]