Wolverine Tube shareholder calls for investigation of Exeon

Nov 22, 2010 | 01:44 PM | Meredith Mazzilli

A Wolverine Tube Inc. (WTI) shareholder has called on the U.S. Bankruptcy Court to investigate the copper tube maker's relationship with the parent company of its main cathode supplier, Exeon Inc, and its shareholder Plainfield Asset Management.

Shareholder Dr. John Wust wrote Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware in a letter dated Nov. 6 requesting that the court scrutinize activities of Alpine Group Inc, Exeon's parent company, as well as of WTI stakeholder Plainfield Asset Management in the three years leading up to WTI's Nov. 1 Chapter 11 filing. "We humbly request that the Court consider and scrutinize the highly unusual activities of Plainfield Asset Management, Alkest, LLC and the Alpine Group that have transpired in the three years prior to this bankruptcy filing in its final ruling of law," Wust said, explaining....





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