Resistance Grows To Appaloosa's $2.5M Fee Request

Law360, New York (May 1, 2008, 12:00 AM EDT) -- Equity holders of the recently reorganized Dana Corp. have joined the auto parts maker's bankruptcy trustee in opposing the $2.5 million fee application of the company's would-be investment partner, Appaloosa Management LP.

The ad hoc committee representing certain noteholders filed an objection to the U.S. Bankruptcy Court for the Southern District of New York on Wednesday, saying the hedge fund's request for legal and consultancy fees incurred in its failed pursuit of a stake in Dana was founded on the flawed premise that its involvement in...
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