The U.S. Bankruptcy Court for the District of Nevada has granted a motion from the region’s federal trustee to cut the time needed for her to appoint a Chapter 11 trustee for Royce International Broadcasting.
It’s a devastating blow to Royce, owned by Ed Stolz. Why? It effectively strips control of the three FMs Stolz desperately tried to sell at a high valuation, all but concluding a lengthy battle that involved two court cases and the unwinding of the stations’ sale as ordered by a California-based federal judge.
