KIT Digital's $25M Ch. 11 Deal Delayed By Equity Group

Law360, New York (May 22, 2013, 3:27 PM EDT) -- A New York bankruptcy judge on Wednesday said he was inclined to approve three private equity firms’ commitment to put $25 million toward KIT Digital Inc.’s reorganization, but held off on the ruling because of a last-minute announcement that an equity committee is being formed.

U.S. Bankruptcy Judge Robert E. Gerber appeared at a hearing dismayed by the notice he said he received at 5 p.m. the day before that the U.S. trustee had agreed to appoint an official committee for equity shareholders. Despite the presence...
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