Court Refuses Equity Committee In Spansion Ch. 11

Law360, New York (October 23, 2009, 5:18 PM EDT) -- The bankruptcy court overseeing Spansion Inc.’s Chapter 11 case has rejected an investor’s attempt to form a committee of equity holders to represent stockholders during the technology company’s choppy restructuring.

Judge Kevin J. Carey dismissed Philip Mathers’ request with prejudice because the investor, who resides in the U.K., declined to appear at a hearing scheduled early this month to debate the need for such a committee.

In a letter to the court, Mathers said his career and location prevented him from appearing at the hearing but...
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