Cloud Peak Investors Push For Ch. 11 Equity Committee
Law360, Wilmington (July 9, 2019, 6:47 PM EDT) -- More than 100 shareholders of coal mining enterprise Cloud Peak have contributed to a letter-writing campaign imploring a Delaware bankruptcy judge to appoint a committee of equity security holders and saying the debtor had undervalued its assets to the detriment of investors.
In the series of form letters electronically signed by Cloud Peak investors, the shareholders say time is of the essence in their request for the appointment of a committee, as the debtor has sought to expedite the bankruptcy process several times, and if the plan moves forward as proposed, the value the shareholders say should be contributed to their...
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