Northwest Shareholders Ditch Committee Bid

Law360, New York (March 1, 2007, 12:00 AM EST) -- A group of Northwest Airlines shareholders that had been angling for the bankruptcy court to establish an official committee to represent its rights has abandoned its campaign in order to focus more on opposing the carrier’s reorganization plan.

On Wednesday, the equity holders, led by investor Owl Creek Asset Management, decided to withdraw their demand, choosing to redirect their energies.

The shareholder group now intends to ask the court to appoint an examiner to review whether Northwest and its creditors are considering a merger or other...
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