Linn Energy LLC's equity holders, a group that stands to be wiped out in the oil-and-gas company's restructuring, has asked a bankruptcy court to appoint an official committee to represent their interests, Dow Jones Newswires reported yesterday. Two shareholders of the bankrupt oil-and-gas company said they believe there is value available to equity owners now that oil and gas prices have rebounded from the rock-bottom lows that sent so many companies into bankruptcy. According to documents filed on Thursday with the U.S. Bankruptcy Court in Victoria, Texas, the shareholders added that most of the people who own Linn shares can't afford to pay legal fees out of pocket. Even as equity holders protest, Linn has received broad support for the restructuring from its debtholders and plans to present that plan to the court on Jan. 24.
