Wolverine Tube Sues To Stop Ch. 11 Objection

Law360, New York (May 31, 2011, 7:24 PM EDT) -- Bankrupt copper tube maker Wolverine Tube Inc. filed suit in Delaware on Friday against one of its noteholders, Plainfield Asset Management LLC, seeking to stop it from pulling critical support for Wolverine's reorganization plan.

Wolverine filed its complaint in Delaware bankruptcy court to preempt Plainfield's objection, which was filed Tuesday. Wolverine filed for bankruptcy protection in November 2010 after attempts to effect an out-of-court financial restructuring proved unsuccessful.

Plainfield is demanding that the court refuse to confirm Wolverine's disbursement plan, claiming that certain definitive documents omit...
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