Tyco, Bondholders Spin-Off Dispute Continues

Law360, New York (March 4, 2008, 12:00 AM EST) -- A federal judge has denied summary judgment motions in a dispute brought by Tyco International Ltd.’s bondholders against the company, arguing the company’s spin-off of its health care and electronics divisions last year violated the terms of its debt.

On Monday, Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York denied summary judgment motions from both Tyco and its bondholders, represented by the Bank of New York, ruling that she could not determine whether the transaction involved a transfer...
To view the full article, register now.