Equity Committee Appointed In Pilgrim's Pride Ch. 11

Law360, New York (May 1, 2009, 12:00 AM EDT) -- The bankruptcy judge overseeing the Chapter 11 proceedings of Pilgrim's Pride Inc. has approved the appointment of an equity committee, despite objections from the official committee of unsecured creditors and the agent for the debtor-in-possession lenders.

In an opinion signed Thursday in the U.S. Bankruptcy Court for the Northern District of Texas, Judge Dennis M. Lynn said it was necessary for a shareholders committee to be formed in order to adequately and fairly represent investor interests in the debtors' Chapter 11 cases.

The court said that...
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