Dan River creditors' committee members seek OK to trade company securities

By Jeff Pines

Washington, May 19 - Member firms of Dan River Inc.'s committee of unsecured creditors want court permission to trade in the company's securities.

The committee filed a motion Tuesday afternoon with the U.S. Bankruptcy Court for the District of Northern Georgia.

Firms that do choose to trade the securities would establish a screen between those employees who serve on the committee and those who trade.

Screening procedures include a physical separation between those who serve on the committee and those who trade, separate telephone and facsimile lines and special procedures for delivering and posting telephone messages.

L.C. Capital Master Fund, Ltd., Wellman Inc., HSBC Bank USA, Singer Children's Management Trust & Affiliates, Sandler Capital Managment and Teijan Akra USA are members of the committee.

Dan River, a Danville, Va.-based textile firm, filed for Chapter 11 on March 31. The company's Chapter 11 case number is 04-10990.

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