No Need For Ampex Equity Holders Committee: Judge

Law360, New York (May 15, 2008, 12:00 AM EDT) -- A judge refused on Wednesday to appoint a committee to represent Ampex Corp.'s equity security holders in the digital photography company's bankruptcy case, saying that the equity holders had little chance of any recovery.

Valuevest High Concentration Master Fund Ltd., one of the equity holders, moved to appoint the committee on April 30.

Valuevest said that Ampex had severely underestimated its enterprise value after its planned reorganization at $79 million, when it should be closer to $108 million — or even higher if Ampex exploited its...
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