Smurfit Shareholders Lose Bid For Equity Committee

Law360, New York (December 11, 2009, 3:44 PM EST) -- A bankruptcy judge has decided not to allow a group of Smurfit-Stone Container Corp. shareholders to form an equity committee, denying a bid that was strongly contested by parties including the unsecured creditors committee and the trustee in the case.

In an order issued Thursday, Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware concluded that the shareholders group, led by Caspian Capital Advisers LLC, did not need an equity committee to adequately represent their objections to Smurfit-Stone's Chapter 11 plan, because...
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