Hedge fund Brencourt Advisors has filed a letter it sent to Interstate Bakeries Corporation with the US Securities and Exchange Commission (SEC) seeking the company to hold an annual shareholders meeting.

The hedge fund, one of Interstate’s largest shareholders has also filed a suit with the Chancery Court of Delaware to compel the Kansas City, Missouri-based company to hold a shareholders’ meeting and elect new directors.

Brencourt Advisors chairman and chief executive officer William L Collins said in the letter: “I am writing to inform you of our decision to request the Delaware Chancery Court to compel a shareholder meeting to elect new directors to IBC’s board of directors. Such action is necessary if IBC is to successfully restructure and maximise value for all constituents – creditors, shareholders, management and employees.”