Accuride Shareholders Skewer Ch. 11 Plan

Law360, New York (December 16, 2009, 3:38 PM EST) -- Accuride Corp.’s equity holders have denounced the wheel maker’s prepackaged Chapter 11 plan, claiming the debtors are undervaluing the company and eagerly handing the business over to noteholders enriched at the shareholders’ expense.

The official committee of equity security holders urged Judge Brendan Linehan Shannon of the U.S. District Court for the District of Delaware to reject the disclosure statement for a reorganization plan the committee says is lopsided and contrary to the interests of the estate.

Submitted last month, the prenegotiated plan looks to extend...
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