Malden Mills Creditors Push For GE Settlement

Law360, New York (March 23, 2007, 12:00 AM EDT) -- Unsecured creditors of Malden Mills Industries Inc. want a bankruptcy court to sign off on a deal with the beleaguered fleece manufacturer’s creditor General Electric Capital Corp. following months of "difficult negotiations."

In a motion filed Wednesday in the U.S. Bankruptcy Court for the District of Massachusetts, the official committee of unsecured creditors asked Judge Joel B. Rosenthal to approve the settlement, reached sometime last week, according to court documents.

Under the terms of the deal, GE Capital has agreed to contribute half a million dollars...
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