Bankrupt Edgenet Seeks To Sink Bid For Official Committee

Law360, Wilmington (March 5, 2014, 8:52 PM EST) -- Data technology company Edgenet Inc. urged a Delaware bankruptcy judge Wednesday to reject a call by noteholders for an official committee, saying the appointment would run up additional costs on behalf of a group that already has a voice in the Chapter 11 case.

The noteholders — a group of 24 former Edgenet shareholders who received $20 million in promissory notes when the company was acquired a decade ago — are currently represented by Ernest H. Wu, who holds a role referred to in court documents...
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