Developments in EMO Closing
The emocorp.com domain name has been redirected to show a letter from the man responsible for receiving and managing all of EMOcorp’s assests. More information is available in terms of what is going to happen to the EMO Corporation.
There appears to be a shortfall that exists between [EMO Corporation's] liabilities and assets available for distribution to creditors. [Mr. Barton of FTI Consulting] will be investigation EMO’s books and records regarding this apparent shortfall. Until this investigation is completed, the Texas Attorney General and the Texas Department of Banking have requested that the Court impose certain restrictions on withdrawls of funds in order to ensure that the result will be fair and equitable. We will be moving as quickly and as purdently as we can in order to resolve these issues for the equal benefit of all creditors.
Read the full letter here.
