Northwest Airlines (NWACQ) Said US Trustee Declined to Appoint Shareholder Committee, Joins Unofficial Shareholder Committee

In an amended 13D filing on Northwest Airlines Corp. (OTC: NWACQ), 5% holder Owl Creek Asset Management said the United States Trustee declined to appoint the Northwest Equity Committee which it has been pushing for. The firm said they have become a member of an unofficial Northwest Equity Committee with other shareholders. The unofficial Committee retained legal and financial advisors an will attempt to obtain shareholder representation in the bankruptcy case.

From the filing:

The Reporting Persons sent a letter on November 21, 2006 to the Acting United States Trustee ("UST") requesting the appointment of an official committee of equity security holders to represent shareholder interests in the Issuer's bankruptcy case ("Northwest Equity Committee"). A copy of that letter was attached to the Reporting Persons original 13D. On December 8, 2006 the Reporting Persons sent a second letter to the UST further requesting appointment of the Northwest Equity Committee. A copy of that letter was attached to the Reporting Persons' Amended 13D. By letter dated December 21, 2006, the UST advised the Reporting Persons that she declined to appoint the Northwest Equity Committee. A copy of that letter is attached as Exhibit 4. The Reporting Persons have become a member of an unofficial Northwest Equity Committee with other entities that own shares of Common Stock for the purpose of requesting that the court overseeing the Issuer's bankruptcy case appoint a Northwest EquityCommittee as an official committee in such case. The unofficial Northwest Equity Committee has retained legal and financial advisors to assist in such request and the Reporting Person expects that this request will be made in the near future. The Investment Manager intends to work to protect shareholders' economic interests and is interested in serving on an official Northwest EquityCommittee, if recognized by the bankruptcy court.