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SeraCare Loses Control Of Its Chapter 11 Case

Law360 (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...
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