CCS Second-Lien Lenders Lose Bid For Committee

Law360, New York (September 2, 2009, 1:01 PM EDT) -- The bankruptcy court overseeing CCS Medical Inc.’s reorganization won't appoint a committee to represent disgruntled second-lien lenders, leaving it to the investors to fund their own opposition to a prearranged plan that largely neglects their $110 million claims.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware refused Tuesday to appoint an official committee of second-lien lenders, siding with CCS and the first-lien lenders’ contention that the group is already adequately represented.

The second-lien lenders sought a committee to further opposition...
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