Bid For Smurfit Equity Panel Faces More Resistance

Law360, New York (December 4, 2009, 1:08 PM EST) -- A bid by Smurfit-Stone Container Corp. shareholders to form an equity committee that represents their interests is facing more opposition, this time from the bankrupt paper products company's indenture trustee Wilmington Trust Co., which holds $2.1 billion worth of unsecured claims against Smurfit-Stone.

Wilmington filed a motion in the U.S. Bankruptcy Court for the District of Delaware Thursday joining earlier motions from the debtors, unsecured creditors committee and U.S. trustee, which all objected to a proposal from Caspian Capital Advisors LLC to form an official committee...
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