Shareholders Seek End To SeraCare Chapter 11 Control

Law360, New York (August 22, 2006, 12:00 AM EDT) -- Raring to push forward a competing reorganization plan, an ad hoc equity committee will ask a judge Thursday to do away with SeraCare Life Sciences Inc.’s exclusivity period to submit a sole plan.

The unofficial shareholder committee, which owns approximately 28.5% of SeraCare shares, plans to make its request in the U.S. Bankruptcy Court for the Southern District of California. The court had given Seracare until Oct. 25 to lobby for creditors’ support of its plan.

The equity panel also wants to petition the judge to...
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