Creditors of Bankrupt Oil Driller Allege Fraud, Want CEO Out
- MTE Holdings investors want court-appointee to take over
- Company leadership failed to provide basic data, say creditors
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A group of MTE Holdings creditors want its Chief Executive Officer -- real estate developer Mark Siffin -- replaced by a court-appointed official amid accusations of fraud and mismanagement at the bankrupt oil driller.
Three stakeholders in the Chapter 11 case -- Natixis SA, Riverstone Credit Management LLC and a group of drilling service providers -- have asked Judge Christopher Sontchi to appoint a trustee to replace Siffin during bankruptcy.