Creditors Question Oak Hill's Role In Southern Air Ch. 11

Law360, Wilmington (December 12, 2012, 5:06 PM EST) -- Unsecured creditors on Tuesday demanded more disclosure on bankrupt Southern Air Inc.’s reorganization plan, questioning whether it favors the cargo carrier’s private equity owner, Oak Hill Capital Partners, at the expense of creditors.

In an objection filed in Delaware bankruptcy court, the official committee of unsecured creditors in the case said the plan’s disclosure statement fails to outline the web of connections between Oak Hill, Southern Air and their advisers, or discuss the business rationale behind a series of transactions with the private equity firm regarding...
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