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Official Equity Committee Sought in U.S. Concrete, Inc. (RMIX) Chapter 11 Cases

|Includes:US Concrete Inc. (RMIX)

 A group of 20 individual holders of the common equity of  U.S. Concrete, Inc. (RMIX) filed a motion yesterday asking  Judge Peter Walsh  of the Delaware bankruptcy court to appoint an official committee of equity security holders in the chapter 11 cases of the company and its affiliates.  The group of equity holders, which reportedly hold over 6.2% of the outstanding common shares of U.S. Concrete, includes the original founders of U.S. Concrete and "significant members of prior management" of the company according to the motion.  The motion is the latest in a line of similar motions filed over the past year in the Delaware bankruptcy court, which have been largely unsuccessful.  In the last twelve months, judges in Delaware have rejected the appointment of equity committees in the  Smurfit-Stone Container Corp. , Spansion Inc., TLC Vision (NYSE:USA) Corp. (more details here), Regent Communications, Inc. (more here), and Visteon Corp. bankruptcy cases

Read more: http://www.netdocketsblog.com/2010/06/official-equity-committee-sought-in-us.html#ixzz0ppGCX332


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Stocks: RMIX