US Concrete Equity Holders Seek Ch. 11 Committee

Law360, New York (June 3, 2010, 6:15 PM EDT) -- A group of shareholders in bankrupt U.S. Concrete Inc. have contended that management negotiated a “highly biased” deal with creditors that needlessly cuts into recovery for equity holders, and are demanding an official committee to represent their interests.

A group of equity holders with roughly 6.2 percent of U.S. Concrete's stock filed a motion in the U.S. Bankruptcy Court for the District of Delaware on Wednesday, seeking the appointment of an official committee in the expedited bankruptcy proceedings.

With the rapid and complex nature of the...
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