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Tweeter seeks court approval to start causes of action against certain workers
By Reshmi Basu
New York, Oct. 12 - Tweeter Home Entertainment Group, Inc.'s official committee of unsecured creditors requested that it be allowed to commence causes of action against certain employees on behalf of the estate, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.
According to the motion, the committee had identified several causes of action against employees of Tweeter Newco LLC, a privately held portfolio company of Schultze Asset Management LLC.
In July, assets of Tweeter Home were sold to Schultz for $38 million.
In addition, the creditors' committee "believes that the causes of action are a potentially valuable estate."
A hearing is scheduled for Nov. 14.
Tweeter, a Canton, Mass., consumer electronics retailer, filed for bankruptcy on June 11. Its Chapter 11 case number is 07-10787.
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