Cineworld: Court says no to appointment of official equity committee

By Sarah Lizee

Olympia, Wash., June 23 – A group of Cineworld Group plc equity holders lost a bid to have an official committee of equity security holders appointed, according to documents filed with the U.S. Bankruptcy Court for the Southern District of Texas.

The court denied the motion on June 16, and the group filed an emergency motion to reconsider on Tuesday.

The court denied the emergency motion on Thursday, saying it would be inappropriate to force the estate to bear the substantial costs of an equity committee “in this hopelessly insolvent case.”

Cineworld is a London-based cinema operator. The company filed bankruptcy on Sept. 7, 2022 under Chapter 11 case number 22-90168.

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