Tower Auto Fights Back Goldman Sachs Claim

Law360, New York (July 18, 2006, 12:00 AM EDT) -- Tower Automotive Inc. has asked a bankruptcy judge to drastically reduce the $89 million claim that Goldman Sachs Credit Partners LP brought against it over a former lease agreement.

In a Friday motion asking for a partial summary judgment, Tower said that Goldman Sachs’ claim is “drastically overstated.”

Goldman Sachs received $82 million of the original $126 million for twin eight-year leases prior to the court-ordered termination of the rental agreements, according to court documents. Tower also gave it $25.2 million as a draw on two...
To view the full article, register now.