Fabrikant Creditors Rebuff Banks' Objections

By Brendan Pierson

Law360, New York (April 29, 2008, 12:00 AM ET) -- Creditors of bankrupt diamond wholesaler M. Fabrikant & Sons Inc. rebuffed objections to the company's latest proposed Chapter 11 liquidation plan on Monday, saying that the plan does not need to leave room for the lenders to recover fees and expenses in an adversary dispute with the creditors.

The objection was filed Tuesday April 22 by lenders JP Morgan Chase Bank NA, ABN Amro Bank NV, Bank of America NA, HSBC Bank USA and others.

It said the latest plan, filed jointly by Fabrikant and its...
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