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    "I Say You Are No Longer A Board"

    Several Nevada statutes provide for the appointment of a receiver or custodian of a corporation, including NRS 32.010, NRS 78.347, NRS 78.630 and NRS 78.650.  Yesterday, the Ninth Circuit Court of Appeals addressed whether directors of a Nevada corporation could cause the filing of a voluntary Chapter 11 bankruptcy petition after the appointment of a receiver.  In re Sino Clean Energy, Inc., (9th Cir. Case No. No. 17-15316, Aug. 27, 2018).  The answer was clear that they do not:

    "Applying Nevada law to the facts in the record, the individuals who filed the bankruptcy petition were not members of the board of directors of SCEI at the time they filed the petition, and they were not authorized to file a bankruptcy petition on behalf of SCEI."

    One can almost here an echo of Oliver Cromwell's famous admonition to the Rump Parliament: "You are no longer a Parliament, I say you are no Parliament".