Pink Energy CEO, other execs could face lawsuit over failure of local solar company
Pink Energy’s bankruptcy trustee has raised the possibility of a lawsuit against former CEO Jayson Waller and other directors and officers of the now-defunct company as part of its bankruptcy proceedings.
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A Dec. 1 filing by the trustee lists potential assets that could be available for distribution to creditors. It includes “possible claims against the (Pink Energy’s) former officers and directors.” The definitions section of the filing states that “means any suit instituted by the Trustee … against the former members, managers, directors and/or officers of the Debtor in connection with the Chapter 7 Case.”
In October, Jimmy Summerlin Jr. of Young, Morphis, Bach & Taylor LLP in Hickory was appointed trustee in the case by the U.S. Trustee in the Department of Justice. He says he cannot comment on any potential claims the bankruptcy estate may file beyond what is said in filings.
The filing also lists other possible assets.
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The two lawsuits are currently stayed until a determination is made on whether they can proceed in bankruptcy court.
The bankruptcy is the culmination of a series of complaints and state investigations over thousands of failed solar installations.
Read the full story here.
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