The trustee appointed to liquidate Cox Operating LLC said there should be no room for former executives to dismiss sufficiently pleaded claims that they looted the Gulf oil company before its collapse.
Former chairman Brad Cox and others who presided over the offshore operator’s “financial implosion” in 2023 have been credibly accused in specific detail of treating the company like a “personal piggy bank” to fund lavish lifestyles, trustee Michael D. Warner told the US District Court for the Eastern District of Louisiana on Wednesday.
The defendants’ efforts to dismiss the suit for inadequately alleging that they breached fiduciary duties ...
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