SP Newsprint Creditors Seek Docs On Fees To Insider Co.

Law360, Wilmington (March 30, 2012, 8:24 PM EDT) -- SP Newsprint Holdings LLC’s unsecured creditors asked for court permission Thursday to investigate $25 million of management fees and other payments the company made before its bankruptcy to a separate firm run by SP Newsprint insiders.

In a motion filed in Delaware bankruptcy court, the official committee of unsecured creditors demanded documents and testimony from Brant Industries Inc., which shares the same set of top executives as SP Newsprint — including CEO Peter M. Brant.

In the two years before it sought court protection in November,...
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