Vendors File Suit Against Tower Records

Law360, New York (March 30, 2007, 12:00 AM EDT) -- A number of secured vendors, including Sony BMG, Twentieth Century Fox Home Entertainment and Warner Home Video, have filed a lawsuit against bankrupt Tower Records to stop the company from putting money they are allegedly owed toward administrative and other expenses.

The lawsuit, filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware, says that Tower owes the secured trade vendors about $77.6 million, approximately $71.4 million of which is held by the informal committee that filed the suit.

The suit was filed two...
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