SeraCare Objects To Call For Equity Committee

Law360, New York (May 17, 2006, 12:00 AM EDT) -- Unsecured creditors of bankrupt diagnostics company SeraCare Life Sciences Inc. have objected to the proposed formation of an equity committee, arguing that the equity holders are mostly concerned with control over the company and not inadequate representation.

An ad hoc committee representing equity holders, which represents about one-third of SeraCare’s outstanding shares, filed the disputed motion to create an equity committee on April 3. A hearing on the appointment is scheduled for May 24.

SeraCare, which also filed an objection to the request, filed for Chapter...
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