In a receivership proceeding, the court considered a motion by the court‑appointed receiver seeking authorization to place two debtor corporations into liquidation and to approve distributions to creditors following completion of a claims process.
A former employee creditor sought an extension of time to file a late claim after a mailing error caused the claim to arrive after the claims bar date.
The court granted the extension and approved a settlement of the claim.
The court held that the receiver had authority, through the appointment order and applicable corporate statutes, to seek winding‑up orders for the corporations and to act as liquidator.
The proposed process for identifying and addressing shareholder claims to surplus proceeds was found reasonable.
