PHI, Inc. – Equity Committee Objects to Debtors’ Disclosure Statement, Alleging Preferential Treatment of Controlling Shareholder and “Cataclysmic” $700.0mn Undervaluation of Debtors’ Estates

June 3, 2019 – The Debtors' Official Committee of Equity Security Holders (the “Equity Committee”) objected viscerally [Docket No. 605] to the Debtors’ Disclosure Statement, citing numerous structural and informational deficiences, but saving special scorn for: (i) the Debtors’ willingness to give its controlling shareholder, Al Gonsoulin, the exclusive right to purchase a substantial interest in…