NewPage Creditors Demand Docs On Cerberus Deal

Law360, Wilmington (November 14, 2012, 6:48 PM EST) -- NewPage Corp.'s unsecured creditors demanded Tuesday that the bankrupt paper company turn over documents on a proposed settlement with its majority owner Cerberus Capital Management LP, alleging the deal gives up valuable claims against the private equity firm for little in return.

In a motion to compel filed in Delaware bankruptcy court, the official committee of unsecured creditors said Cerberus’ settlement offer of $1.5 million and an agreement to waive a worthless stock deduction represents only a “token recovery” for the estate and is the product...
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