Trustee Asks Judge to Dismiss Mark Casolo's Chapter 7 Bankruptcy
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Trustee seeks dismissal of restaurateur bankruptcy


March 04, 2011

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Trustee seeks dismissal of restaurateur bankruptcy

After his bankruptcy attorney recused himself from the case, citing ethical conflicts, the bankruptcy trustee overseeing restaurateur Mark Casolo's liquidation case has petitioned a judge to dismiss it.

In late February, Casolo's attorney, Michael Mansion, moved to recuse himself from the case, adding that Casolo didn't need a replacement attorney and could represent himself, since he is a "sophisticated guy," has represented himself before and that any lawyer taking over the case would run into the same ethical problems, according to the Albany Times-Union.

At the time, Casolo was facing a number of legal problems, including accusations of mismanaging investors' money and unpaid taxes. The restaurateur was also investigated by the bankruptcy trustee, William McCarthy, for concealing assets from creditors.

Now, McCarthy has petitioned a judge to dismiss Casolo's Chapter 7 bankruptcy altogether, since he has allegedly not filed all required financial disclosure paperwork, according to the news source. A dismissal would mean a lifting of the automatic stay, allowing creditors to pursue collection against Casolo as if he had never filed for bankruptcy.

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