Law360, New York (April 13, 2011, 8:39 PM ET) -- Creditors of hedge fund New Stream Secured Capital Inc. oppose its plan for financing while under Chapter 11 protection that includes the sale of a portfolio of life insurance policies, according to documents filed Monday in a Delaware bankruptcy court.
New Stream's financing plan benefits a McKinsey & Co. affiliate that is purchasing the life insurance policies, the three-member unsecured creditors committee said in the U.S. Bankruptcy Court for the District of Delaware.
The committee criticized New Stream for choosing to sell to McKinsey affiliate MIO...
Creditors Slam Financing Plan In New Stream's Ch. 11
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