A letter to the BK Judge ....
here's a copy of a letter filed with the court from a minority equity holder to Judge Thompson .....
Honorable Kathleen Thompson
United States Bankruptcy Judge
Central District of California
255 East Temple Street, Room 940
Los Angeles, CA 90012
May 4, 2010
RE: Meruelo Maddux Bankruptcy
Dear Judge Thompson,
As a minority stockholder in Meruelo Maddux with 475,000 shares, I am sending this letter to you because an Equity Committee does not exist in this case. The stock was purchased because I believed the company had equity even in this down market, which the sale of 705 W. 9th has proven. The invitation only private placement proposed by the debtors on page 121 of the Second Amended Joint Disclosure Statement, available to "investors selected by the Company" is appalling. The private placement simply wipes out small investors and the debtors abscond with the equity. Please do not permit this to happen.
Best Regards,
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