Fedders Urges Court To OK Disclosure Statement

Law360, New York (June 9, 2008, 12:00 AM EDT) -- Fedders Corp. has asked the court overseeing its bankruptcy to approve a disclosure statement that would distribute the proceeds of its liquidation to holders of allowed claims.

The key term of the proposal, filed Friday in the U.S. Bankruptcy Court for the District of Delaware, is a settlement with the company's term lenders – Goldman Sachs Credit Partner LP, Camulos Master Fund LP and Highland Capital Management LP. Fedders said that absent the settlement, the company will be subject to complex, expensive litigation to determine the...
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