Allied Shareholders Lose Bid To Stay Ch. 11 Plan

Law360, New York (August 29, 2008, 12:00 AM EDT) -- Two private equity shareholders of formerly bankrupt trucking company Allied Holding Inc. have lost their fight to stay the company's Chapter 11 reorganization plan, with an appeals court agreeing that granting the belated request would be unfair to other investors.

The U.S. Court of Appeals for the Eleventh Circuit on Wednesday upheld the ruling of a federal court that found the investors' bid “equitably moot” in light of the Chapter 11 plan's substantial consummation.

The doctrine of equitable mootness states that appeals are moot when relief...
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