K-V Lenders Slam Creditors' Objections Over Plan Statement

Law360, New York (April 26, 2013, 6:43 PM ET) -- A group of lenders and noteholders, including Silver Point Capital LP, on Thursday dismissed concerns from unsecured creditors of K-V Pharmaceutical Co. about the bankrupt company’s disclosure statement for its potential reorganization plan, saying the creditors’ objections are “simply wrong.”

The debtor-in-possession lenders and ad hoc senior noteholders group contend that the creditors’ committee’s objection to the disclosure statement exhibits all the “classic signs” of a creditor trying to get whatever hold-up value it can get from a debtor and senior lenders.

Furthermore, the committee’s objections...
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