Sbarro Creditors Demand E&Y Earnings Report

Law360, New York (July 13, 2011, 6:11 PM EDT) -- A group of creditors asked a New York bankruptcy court on Tuesday to force Ernst & Young LLP to turn over an earnings report it prepared for Ares Management LLC in relation to a proposed investment in bankrupt pizza chain Sbarro Inc.

Sbarro's creditors committee said it needed the information to adequately evaluate the options for the company's bankruptcy case. Sbarro shareholders Ares and MidOcean Partners III LP had given the company a $30 million rights offering after rising food costs and falling foot traffic in...
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