Advanta Creditors To Depose Execs On $52M Claim

Law360, New York (November 17, 2010, 7:20 PM EST) -- Advanta Corp.’s unsecured creditors committee received bankruptcy court approval Wednesday to depose two company insiders as part of its challenge to $52 million in claims asserted by top executives.

At a hearing in the U.S. Bankruptcy Court for the District of Delaware, Judge Kevin J. Carey granted the committee a limited Rule 2004 examination of either CEO Dennis Alter or President William Rosoff, as well as independent director Max Botel.

Alter and Rosoff claim they are owed the $52 million in benefits and severance as part...
To view the full article, register now.