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The Securities and Exchange Commission has filed an objection to bankrupt Comdisco Inc.’s plan of reorganization, saying portions of the plan could shield current and former company officials from “any possible past misconduct or negligent behavior.”
John Lee, assistant regional director for the SEC’s Midwest office, said it is not unusual for a firm to include such provisions in a reorganization plan, but the commission has a policy to oppose them. Lee also noted that there are 15 class-action lawsuits filed against Rosemont-based Comdisco and former company officials. A bankruptcy court hearing on the plan is scheduled for Friday, though the judge may not rule on the SEC’s objection. A Comdisco spokeswoman declined to comment.
