Peter C. Browning v. Jeff P. Prostok

This dispute arises out of highly contentious bankruptcy proceedings. During the bankruptcy proceedings, a committee representing bond and trade unsecured creditors vigorously disputed the valuation of the debtor as presented by the debtor’s management. The committee sought to replace the debtor’s management with a bankruptcy trustee, based in part on allegations of intentional undervaluation of the debtor. In addition, the committee objected to the debtor’s plan of reorganization, again raising allegations of intentional undervaluation. Over two years after the bankruptcy court entered its…