Law360, New York (April 01, 2011, 6:17 PM ET) -- Investors opposing New Stream Secured Capital Inc.’s reorganization plan won standing Wednesday to participate in the Delaware bankruptcy, allowing the investors to embark on a broad investigation of the hedge fund that could threaten the expedited timeline of the case.
Judge Mary F. Walrath found at a hearing in the U.S. Bankruptcy Court for the District of Delaware that the dissident investors— owed nearly $100 million — had direct claims against New Stream that were “sufficiently colorable” to confer standing, rejecting the hedge fund’s argument that...
Opposing Investors Win Standing In New Stream Ch. 11
To view the full article, take a free trial now.
