Granite’s Creditors Balk At Joining Committee

Law360, New York (January 30, 2007, 12:00 AM ET) -- The U.S. Trustee overseeing Granite Broadcasting Corp.’s bankruptcy proceedings said Tuesday that she could not appoint a creditors’ committee due to lack of interest.

Lisa Lambert, an attorney in the U.S. Trustee’s office, told the U.S. Bankruptcy Court in Manhattan that she contacted the 20 largest unsecured creditors listed in the debtor’s petition and that “an insufficient number of eligible creditors indicated a willingness to serve on such a committee.”

Lawyers with Akin, Gump, Strauss, Hauer & Feld LLP, which is representing Granite, could not immediately...
To view the full article, register now.