Law360, New York (November 04, 2009, 4:12 PM ET) -- Creditors of bankrupt telecommunications holding company MIG Inc. are seeking to bring a derivative action over certain poison pill provisions that could decimate the value of the debtor's primary asset.
In a motion filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, the official committee of unsecured creditors asked for an order granting it standing to prosecute a lawsuit on behalf of the debtor's estate.
The creditors committee contends that the company's board of directors is conflicted and not likely to bring such...
MIG Creditors Ask To Sue Over Poison Pill Provisions
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