Champion Creditors Take Aim At Credit Suisse Conflict

Law360, New York (February 19, 2010, 5:23 PM EST) -- The unsecured creditors in homebuilder Champion Enterprises Inc.’s bankruptcy case have accused Credit Suisse AG of using its conflicting role as both an agent to the lending group and an underwriter for the debtors to improve the lenders’ collateral position.

The official committee of unsecured creditors lodged an adversary complaint Thursday in the U.S. Bankruptcy Court for the District of Delaware against Credit Suisse, Credit Suisse Securities USA LLC and MAK Capital Fund LP.

The complaint came a little over a week after the bankruptcy court...
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