Global Power Trustee Creates Shareholders Committee

Law360, New York (November 3, 2006, 12:00 AM EST) -- Shareholders of bankrupt tool maker Global Power Equipment Group Inc. will soon have a louder voice in the company’s Chapter 11 proceedings, after the U.S. Trustee involved in the case agreed to appoint an official shareholders committee.

The committee was created at the request of several private equity groups involved in the bankruptcy, which claimed that Global Power would exit bankruptcy with enough assets to pay back major investors.

Shareholder committees are not often appointed in Chapter 11 cases, as most companies do not emerge with...
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