Trustee to Be Appointed to Run Penthouse During Bankruptcy Fight

CHATSWORTH, Calif.—According to sources familiar with the lawsuit against Penthouse Global Media and its CEO Kelly Holland by former Penthouse financial officer Donald Slaughter, Sr. and others, as well as the bankruptcy proceedings involving the company, for which Slaughter is one of the debtors, U.S. Bankruptcy Judge Martin R. Barash has ordered that a trustee be appointed to run the day-to-day operations at Penthouse for the forseeable future. At press time, the name of that trustee had not be revealed, but the person is expected to begin at Penthouse early next week. At press time, Holland was continuing to conduct Penthouse's business, and said she had a number of meetings regarding company business scheduled for today. Contrary to rumors, Holland has not been barred from Penthouse's premises and is continuing to fulfill her duties as CEO of the company. How Holland's duties at the company may change following the appointment of the trustee is not known.