Tower Sues To Recover Payments

Law360, New York (January 31, 2007, 12:00 AM EST) -- Bankrupt auto parts manufacturer Tower Automotive Inc. started adversary proceedings against 41 companies on Tuesday, in an attempt to recover millions of dollars in transfers made after Tower entered bankruptcy.

Adversary proceedings are lawsuits filed in a bankruptcy court that are related to the debtor’s bankruptcy case. Tower has filed the proceedings to try and force various companies to repay certain transfers Tower made when it was already insolvent.

The transfers allowed those companies to receive more than it would have if the case was administered...
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