Renew Creditors, Bondholders Object To 'Rushed' Sale

Law360, New York (October 9, 2009, 12:39 PM EDT) -- Bondholders and unsecured creditors of Renew Energy LLC have objected to the company's proposal for selling its assets, saying the proposal — which does not include a stalking horse bidder or require an auction — is premature and vague.

U.S. Bank National Association, acting as indenture trustee for holders of $38 million in second-lien bond debt, filed an objection Thursday in the U.S. Bankruptcy Court for the Western District of Wisconsin calling Renew's motion for an expedited sale, which it filed Oct. 1 with the support...
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