NewPage Trustee Leads Clawback Blitz Seeking $71M

Law360, Wilmington (September 04, 2013, 10:12 PM ET) -- The litigation trustee for NewPage Corp. let loose another wave of lawsuits Wednesday, swelling a host of avoidance actions that seek to claw back some $71 million for the benefit of the reorganized paper maker's unsecured creditors.

Litigation trustee Pirinate Consulting Group LLC launched more than 150 suits in Delaware bankruptcy court Wednesday aimed at recovering allegedly preferential payments made during the run-up to company's Chapter 11 filing.

The cases are part of a complement of 776 complaints brought in the past week targeting some $71...
To view the full article, register now.