Creditors Ask Foamex To Hurry Up Chapter 11 Proceedings

Law360, New York (October 4, 2006, 12:00 AM EDT) -- Unhappy with the speed of Foamex International LP’s Chapter 11 proceedings, a major creditor has asked the bankruptcy court to deny the foam products company another 90 days to exclusively file its reorganization plan.

Murray Capital Management Inc., a distressed-debt investor, said in court papers that the company had been in bankruptcy long enough. The creditor noted that Foamex already had a fully committed exit-financing package and didn’t need to wait and see whether big shareholders would invest more.

D.E. Shaw & Co., Goldman Sachs and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.