Bankruptcy Court approves creation of Post-Confirmation Committee represented by KL
By Order dated January 28, 2009, the Bankruptcy Court presiding over the Superior Offshore International, Inc. bankruptcy confirmed the First Amended Joint Chapter 11 Plan of Liquidation (the “Plan”). The Plan provides for the creation of a Post-Confirmation Equity Subcommittee charged with the right to “review, prosecute and settle all claims and Causes of Action against the Debtor’s former officers and directors for actions occurring prior to the Petition Date.”
KL has been retained as Litigation Counsel to the Subcommittee and is presently investigating the claims that may be prosecuted.