Lender Wants AstraZeneca Affiliate's Ch. 11 Case Tossed

Law360, Wilmington (November 28, 2012, 11:01 PM EST) -- The secured lender to a bankrupt AstraZeneca PLC affiliate that owns a contaminated chemical manufacturing site near San Francisco asked a Delaware bankruptcy judge Wednesday to dismiss the unit's Chapter 11 case, claiming it had sought court protection in bad faith.

Cherokee Simeon Venture I LLC, which purchased a former Zeneca Inc. chemical manufacturing plant in 2002 with the intentions of developing or selling it, sought bankruptcy protection Oct. 23. But lienholder EnviroFinance Group LLC claims the filing is merely a dodge for Zeneca to avoid...
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