Werner Creditors Abandon Fight For Now

Law360, New York (February 21, 2007, 12:00 AM EST) -- The unsecured creditors of ladder maker Werner Co. have agreed to bury the hatchet and scrap their challenge to a group of second-lien lenders, though certain restrictions apply to the deal.

On Friday, the creditors submitted a copy of the recent agreement that the group reached with the second-lien lenders to the U.S. Bankruptcy Court in Wilmington.

News of the deal comes just after the committee of unsecured creditors opted to endorse the lenders’ $261.75 million offer for Werner's assets under the name WH Acquisition Co....
To view the full article, register now.