Creditor Fears Loss Of Rights In NE Opco Ch. 11 Sale
By Matt Chiappardi
Law360, Wilmington (September 6, 2013, 9:25 PM EDT) -- A creditor in the bankruptcy case for private equity-owned NE Opco Inc., which does business as National Envelope, objected Friday to the company’s proposed $65 million sale, worried that its chance to offset the $5 million it owes the debtor will be watered down by the transaction.
R.R. Donnelley & Sons Co. says it owes National Envelope nearly $5.3 million under an envelope purchase agreement but was hoping to offset that amount by the $4 million that it claims the debtor still has to pay under...