Foamex Trustee Objects To Shareholders Committee

Law360, New York (June 7, 2006, 12:00 AM EDT) -- The U.S. Trustee for bankrupt foam-cushion manufacturer Foamex International Inc. has objected to shareholders’ requests to form an official committee, in the wake of recent business improvements that have turned the company’s stock into a hot commodity.

The Trustee overseeing the case, Kelly Beaudin Stapleton, said in a court document filed Tuesday that D.E. Shaw Laminar Portfolios LLC—which owns a significant amount of Foamex’s common and preferred stock and had requested the committee—was a “sophisticated player” that has demonstrated “that it is very capable of representing...
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