Shareholders, Trustee Object To Allied’s Plan

Law360, New York (March 30, 2007, 12:00 AM EDT) -- Allied Holdings Inc.'s plans for reorganization have come under fire, with shareholders of the bankrupt auto carrier and the U.S. Trustee overseeing the case urging the court not to give the green light to the company’s Chapter 11 plan disclosure statement.

In court documents filed in the U.S. Bankruptcy Court for the Northern District of Georgia on Wednesday, the ad hoc equity holders committee said the proposed disclosure statement, which explains the terms of Allied's proposed Chapter 11 plan, cannot be approved because it failed to...
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