Based on court papers filed December 11 Wattles, and a group of potential investors, has another idea. The papers indicate Wattles “is a potential investor in connection with a possible competing reorganization plan.” It's possible, if not likely, that such a plan would involve putting Wattles in the driver seat as CEO of the company. That might explain why Movie Gallery would want to get as far clear of him as possible.
The papers, which were an objection to a motion filed by Movie Gallery lawyers petitioning the court to allow them to simply disassociate themselves with Wattles current company Boards. The objection questions Movie Gallery's motivation, stating “It appears that the motive for the filing of the rejection motion may be to disincentivize competitive bidding or as retribution.”
Source: Video Business