Werner Creditors Abandon Fight For Now

Law360, New York (February 21, 2007, 12:00 AM EST) -- The unsecured creditors of ladder maker Werner Co. have agreed to bury the hatchet and scrap their challenge to a group of second-lien lenders, though certain restrictions apply to the deal.

On Friday, the creditors submitted a copy of the recent agreement that the group reached with the second-lien lenders to the U.S. Bankruptcy Court in Wilmington.

News of the deal comes just after the committee of unsecured creditors opted to endorse the lenders’ $261.75 million offer for Werner's assets under the name WH Acquisition Co....
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.