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Article: Judge in Miami to Hold Hearing about Possible Trustee Control of Supra Telecom.
- Article from:
- South Florida Sun-Sentinel (Fort Lauderdale, FL)
- Article date:
- December 20, 2003
CopyrightCOPYRIGHT 2003 South Florida Sun-Sentinal. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jenni Bergal
Dec. 20--A federal bankruptcy judge in Miami is expected to hold a hearing within the next two months to decide whether a trustee should be appointed to take control of Supra Telecom, a Florida-based competitor to BellSouth Corp.
The action comes amid allegations by BellSouth of fraud and mismanagement by Olukayode "Kay" Ramos, Supra's CEO and sole shareholder.
BellSouth, Supra's largest creditor, has alleged that Ramos squandered $16.2 million and allowed Supra's "cash position to dwindle to almost nothing," in a motion asking U.S. Bankruptcy Court Judge Robert A. Mark to appoint a trustee.
BellSouth also alleged ...