Investors Seek $320M In New Stream Ch. 11

Law360, New York (March 8, 2011, 5:04 PM EST) -- Investors of several funds under the umbrella of New Stream Secured Capital LP hauled the company into Delaware bankruptcy court Monday, saying they are owed $320 million and seeking a court-appointed Chapter 11 trustee.

The involuntary bankruptcy petition was filed in the U.S. Bankruptcy Court for the District of Delaware by investors from the U.S. and Cayman Islands. The individual investors bringing the petition say they are owed $90 million, or 28 percent of the total owed all U.S. and Cayman investors.

The investors claim New...
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