Smurfit-Stone Creditors Object To Equity Committee

Law360, New York (September 22, 2009, 7:46 PM EDT) -- Disputing bankrupt Smurfit-Stone Container Corp.'s assertions of its solvency, the company's official committee of unsecured creditors has objected to investment manager Caspian Capital Advisors LLC's request to appoint an official committee of equity security holders to represent shareholder interests in reorganization plan negotiations.

In an objection filed in the U.S. Bankruptcy Court for the District of Delaware on Monday, the unsecured creditors committee said that Caspian should be prevented from appointing the equity committee because Smurfit-Stone continues to be insolvent according to the most recent publicly...
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