Fedders Seeks To Avert 'Speculative' Lawsuit

Law360, New York (March 11, 2008, 12:00 AM EDT) -- Bankrupt air conditioner maker Fedders North America Inc. asked a judge on Friday to stop its creditors from suing several Fedders officers and outside lenders for various forms of alleged misconduct.

The official committee of unsecured creditors in Fedders' bankruptcy asked for permission to file the lawsuit in January. On Friday, Fedders called the charges “highly speculative.”

The proposed complaint targeted CEO Michael Giordano, as well as the company's directors and four of its outside lenders – Goldman Sachs Credit Partners LP, Bank of America NA,...
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