US Concrete Equity Holders Lose Bid For Committee

Law360, New York (June 22, 2010, 2:30 PM EDT) -- A bankruptcy judge has rebuffed a bid from a group of equity holders in bankrupt U.S. Concrete Inc. to form an official committee, finding that even their augmented valuation of the company offers little hope of a recovery for shareholders.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware on Monday denied the request from the ad hoc committee of equity holders, dismissing its arguments that management would not act on equity holders' behalf.

The group of equity holders, who hold...
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