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Foamex Steps Up Fight Against Noteholders

Law360 (November 6, 2006, 12:00 AM EST) -- Foamex International Inc. sued its senior noteholders Friday to stop them from demanding more than the $312 million they are already scheduled to receive as part of the foam product maker’s amended reorganization plan.

The suit, which was filed before the U.S. Bankruptcy Court in Delaware, stated that the noteholders had supported the original reorganization plan and that the bankruptcy trustee had not objected to the amount of senior secured note claims.

The noteholders, led by U.S. Bank N.A., asked for $18.6 million more, however, after...
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