We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Global Power Trustee Creates Shareholders Committee

Law360 (November 3, 2006, 12:00 AM EST) -- Shareholders of bankrupt tool maker Global Power Equipment Group Inc. will soon have a louder voice in the company’s Chapter 11 proceedings, after the U.S. Trustee involved in the case agreed to appoint an official shareholders committee.

The committee was created at the request of several private equity groups involved in the bankruptcy, which claimed that Global Power would exit bankruptcy with enough assets to pay back major investors.

Shareholder committees are not often appointed in Chapter 11 cases, as most companies do not emerge with...
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.