Bid by Carter Hawley Bondholders Rejected: U.S....
From Times Staff and Wire Reports
Bid by Carter Hawley Bondholders Rejected: U.S. Bankruptcy Court Judge James Dooley turned down a request by holders of Carter Hawley Hale Stores bonds to form a separate creditors committee in the company’s Chapter 11 bankruptcy case. The bondholders, who have three of the 13 seats on the existing unsecured creditors committee, argued that their interests could conflict with those of the other committee members. The other committee members are retail suppliers who, in most cases, are less likely than bondholders to press for a breakup of a debtor company. CHH is the parent of the Broadway-Southern California.
