American Safety Razor Lenders Want Say In Ch. 11 Plan

Law360, New York (August 23, 2010, 3:21 PM EDT) -- American Safety Razor Co.'s second-lien lenders want to propose their own plan of reorganization as an alternative to the company's deal to sell the bulk of its assets to its first-lien debt holders.

In an objection to the debtor's request for $25 million in post-petition financing filed Thursday in the the U.S. Bankruptcy Court for the District of Delaware, BlackRock Kelso Capital Corp. and GSO/Blackstone Debt Funds Management LLC — which collectively hold about 28 percent of American Safety Razor's $178.1 million second-lien debt — said...
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