Musicland Creditors Pursue Best Buy Over Transfers

Law360, New York (February 14, 2008, 12:00 AM EST) -- Creditors of Musicland Holding Corp. have said they plan to sue Best Buy Co., which once owned Musicland, along with several former Musicland directors and officers, to recover allegedly preferential payments made to Best Buy before Musicland filed for bankruptcy.

Musicland and the company's unsecured creditors committee agreed in a stipulation filed on Monday in the U.S. Bankruptcy Court for the Southern District of New York that the committee would bring the suit on behalf of Musicland's estate.

The stipulation did not identify the former Musicland...
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