Tower Records Settles Claims With Deutsche

Law360, New York (July 14, 2008, 12:00 AM EDT) -- Music retailer Tower Records has agreed to pay $4.5 million to settle with Deutsche Bank Securities Inc., the assignee of claims held by Universal Music Group and Video Products Distributors Inc., in Tower's ongoing bankruptcy proceedings.

Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the District of Delaware filed an order July 10 approving a settlement agreement and release of claims between Tower, known in its Chapter 11 proceedings as Three A's Holdings LLC, and Deutsche Bank, which purchased the claims against the debtors'...
To view the full article, register now.