COO named for bankrupt Gainey

user-gravatar

A disbarred attorney is now chief operating officer at Gainey Corp., which is working through Chapter 11 reorganization.

The Michigan Attorney Discipline Board ordered Carl Oosterhouse’s law license revoked July 30, which he petitioned for review. Oosterhouse admitted to professional misconduct, which included conversion of client funds and misappropriation of client and law firm funds. He also had forged a client’s endorsement on a check, submitted invalid expense reports and made inappropriate transfer of funds between client accounts. The board denied Oosterhouse a stay of discipline in July.

Gainey filed for Chapter 11 reorganization in October in response to a $238 million lawsuit filed Sept. 26 by Wachovia Bank over loans it made to the carrier, which is ranked No. 61 on CCJ‘s annual Top 250 ranking of for-hire trucking companies. The Grand Rapids, Mich.-based company owns 2,132 tractors and employs 1,585 company drivers.