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Woodbridge Unsecured Creditors Oppose Noteholder Panel

Law360, Wilmington (January 16, 2018, 9:13 PM EST) -- Unsecured creditors of bankrupt Woodbridge Group argued Monday that the real estate development and investment company’s noteholders are seeking an “extraordinary remedy” in their bid for a separate, debtor-funded creditor committee in the $1 billion, hotly disputed Delaware Chapter 11 reorganization effort.

The objection emerged just ahead of Thursday’s scheduled resumption of arguments in a motion to appoint a trustee to replace the current debtor team, filed by the U.S. Securities and Exchange Commission and unsecured creditors, and supported by the Office of the U.S. Trustee.

SEC attorneys...
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