$47M Creditor Swipes At ABC Child Care's Ch. 15 Status

Law360, New York (June 18, 2010, 5:18 PM EDT) -- RCS Capital Development has thrown a wrench into ABC Developmental Learning Centres Ltd.’s Chapter 15 case, contending that the Australia-based child care provider is not entitled to bankruptcy protection and is using the process to avoid paying a $47 million breach of contract verdict awarded to RCS.

RCS Capital urged Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware to reject ABC’s Chapter 15 petition or at least allow RCS to skirt the injunction and attain final judgment of the $47 million...
To view the full article, register now.