LNT Trustee, Conair Settle $13M Adversary Case

Law360, New York (November 17, 2010, 3:20 PM EST) -- Liquidating housewares retailer Linens 'n Things has settled a $13 million adversary suit against appliance maker Conair Corp. over alleged preferential transfers.

Under the settlement, filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, Conair agreed to pay LNT $295,000 and to drop its $3.1 million claim against the retailer's parent company, Linens Holdings Co.

LNT launched its adversary proceeding against Conair in April 2009, seeking the return of what it said were preferential transfers.

LNT filed for Chapter 11 bankruptcy protection in...
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