Equity Committee Says KIT Digital Plan Should Be Rejected

Law360, New York (July 10, 2013, 7:24 PM EDT) -- The official equity holders committee in KIT Digital Inc.’s bankruptcy on Tuesday urged shareholders to vote against the bankrupt media software company’s Chapter 11 reorganization plan, expressing doubt that it provides the best value for them.

KIT submitted the prepackaged plan when it sought Chapter 11 protection in April, but if it doesn’t get the support it needs, it could be forced to seek an alternative route out of bankruptcy.

In a court filing, the committee said it has met with KIT representatives and other parties...
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