A US Trustee needs troubled fintech Synapse to be liquidated through Chapter 7 chapter, cites ‘gross mismanagement’
The prospects for troubled banking-as-a-service startup Synapse have gone from dangerous to worse this week after a United States Trustee filed an emergency movement on Wednesday. The trustee is asking to transform the corporate’s debt reorganization Chapter 11 chapter right into a liquidation Chapter 7, in keeping with courtroom paperwork. The trustee wrote that the…