The Trustee intends shortly to file a Motion requesting the Bankruptcy Court to appoint a Special Representative for Holders of SEBC Common Stock. As presently contemplated, the proposed duties of the Special Representative will be to represent and further the interests of Common Stock Holders generally in connection with the process of developing, negotiating and confirming a Plan with the Trustee, the sponsor of the Plan, and other constituents; advise on the form and substance of supplemental notice to Common Stock Holders and their participation in the Plan process, including communication with Common Stock Holders regarding Plan issues; and otherwise act on their behalf in connection with issues arising in connection with the confirmation of a Plan. The Trustee will also request that with respect to matters that may fall within the scope of the foregoing responsibilities, the Special Representative be granted the ability to appear and be heard on such matters before the Court, ... more.
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