The court-appointed trustee estimated actual losses to investors of $18 billion.
However, a court-appointed trustee found that no trading had occurred for at least 13 years.
But that was not enough to keep the business out of the hands of the court-appointed trustee.
A court-appointed trustee has run the daily affairs of the local for more than two years.
The management company has continued to operate under an agreement with a court-appointed trustee.
And they can seek to have management thrown out in favor of a court-appointed trustee.
The remaining property is sold by a court-appointed trustee, with the money then distributed to creditors.
In 1970, a judge named him counsel to the court-appointed trustees of the company.
These are now in the hands of court-appointed trustees and moving, eventually, toward elections.
For more than a year before its closing, the bankrupt company, under a court-appointed trustee, was still operating.