Northwest Creditors Oppose Shareholder Committee

Law360, New York (February 22, 2007, 12:00 AM EST) -- The unsecured creditors involved in the bankruptcy case of Northwest Airlines have objected to a motion that would create an official shareholder committee, arguing that formalizing the group would detract from the proceedings.

The official committee of unsecured creditors filed their objection in the U.S. Bankruptcy Court for the Southern District of New York, arguing that the request is “a transparent attempt by speculators in the debtors' equity to force the estates to pay the costs of their fruitless pursuits.”

The airline itself has also opposed...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.