Hedge Funds Try To Block $750M Northwest Offering

Law360, New York (March 21, 2007, 12:00 AM EDT) -- Still fighting the order to disclose crucial trading information, a group of hedge funds has asked the bankruptcy judge overseeing Northwest’s case to postpone ruling on the carrier’s request to hold a rights offering that will provide $750 million to fund its bankruptcy exit.

On Monday, the ad hoc committee of equity holders filed papers indicating its opposition to the rights offering, a key part of the carrier’s proposed reorganization plan.

“The debtors concede that they have not offered legacy carriers and other strategic investors the...
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