Fremont Shareholder Tries To Block Plan Approval

Law360, New York (April 12, 2010, 7:46 PM EDT) -- Fremont General Corp. shareholder New World Acquisition LLC has renewed its objections to the equity holders' proposed reorganization plan, asking the court not to approve a settlement that would allow a group of funds to change their vote on the plan.

In motions filed Friday in the U.S. Bankruptcy Court for the Central District of California, New World objected to a proposed settlement between the committee and certain funds, alleging they'd been promoting their own personal interests instead of those of the equity holders.

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