Allied's Ch. 11 Plan Draws Objections

Law360, New York (May 2, 2007, 12:00 AM EDT) -- The Allied Holdings Inc. shareholder behind a district court lawsuit claiming that a private equity fund and a labor union violated racketeering laws when they laid the groundwork for Allied's proposed Chapter 11 plan has filed an objection to that plan in bankruptcy court.

Hawk Opportunity Fund LP joined with Virtus Capital LP to file their objection Tuesday, asking U.S. Bankruptcy Judge C. Ray Mullins to deny confirmation of the reorganization plan. Virtus and Hawk own a combined 742,000 shares—slightly more than 8%—of Allied’s issued and...
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