Blackjewel LLC’s former CEO Jeffery Hoops, under investigation for mismanaging the defunct coal production company, asked to convert the company’s Chapter 11 bankruptcy to a Chapter 7 liquidation.
The U.S. Bankruptcy Court for the Southern District of West Virginia should put Blackjewel’s estate into the hands of a court-appointed liquidator because the company doesn’t have enough money to cover its legal bills and isn’t being rehabilitated, Hoops said in a Nov. 25 court filing.
Hoops, who’s long been alleged of mismanaging the company for his own benefit, was removed as CEO last year as a condition for Blackjewel to obtain ...