REGION

REGION
Stambaugh operator
YOUNGSTOWN -- A federal bankruptcy court hearing on whether to replace the operator of the Stambaugh Building downtown has been postponed a month.
The hearing, scheduled for Wednesday, will be Jan. 22. The U.S. Trustee's Office asked for the change because not all creditor meetings have been held.
The trustee's office wants Jeffrey Moffie, the building's majority owner, removed. The agency says finances show Moffie isn't capable of leading his companies out of bankruptcy and that he has improperly shifted money between various companies.
Moffie's lawyer has said the move isn't needed because the money shifts stopped when the companies filed for bankruptcy last month. He said Moffie intends to restructure debt and emerge from bankruptcy as a reorganized company.
Vindicator staff report