SeraCare Loses Control Of Its Chapter 11 Case

Law360, New York (September 12, 2006, 12:00 AM EDT) -- SeraCare Life Sciences Inc. lost exclusive control over its Chapter 11 case on Friday after a judge in the U.S. Bankruptcy Court in San Diego allowed shareholders to file their own reorganization plan for the company.

Judge Louise DeCarl Adler’s ruling ends SeraCare’s right to file a Chapter 11 reorganization plan, despite requests from the company to extend its deadline through Oct. 18.

The unofficial shareholders committee, which owns approximately 28.5% of SeraCare’s shares, made its request to take over planning in the court in late...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.