A US trustee wants troubled fintech Synapse to be liquidated via Chapter 7 bankruptcy, cites ‘gross mismanagement’

TechCrunch
By Mary Ann AzevedoMay 16, 2024, 7:01 pm431 ptsTop
The prospects for troubled banking-as-a-service startup Synapse have gone from bad to worse this week after the United States Trustee filed an emergency motion on Wednesday. The trustee is asking to convert the company’s debt reorganization Chapter 11 bankruptcy Synapse into a liquidation Chapter 7,…

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