Dynegy Now in Chapter 11 Bankruptcy Seeks to Appoint Trustee

  A motion has been filed for the appointment of a trustee in the Dynegy Holdings bankruptcy proceedings. Dynegy Holdings is a subsidiary of Synergy Inc (NYSE:DYN) .The petition for a trustee gave the reason as “gross mismanagement”. The United States trustee who filed the motion claimed that recent revelations regarding Dynegy’s handling of the bankruptcy were obvious grounds for the appointment of a trustee. The revelations referred to were those of an examiners report that was released last Friday. The examiners report showed numerous instances of bad practice before the companies bankruptcy occurred. The bankruptcy itself proceeded unusually. It…