We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Creditors Slam Financing Plan In New Stream's Ch. 11

Law360 (April 13, 2011, 8:39 PM EDT) -- Creditors of hedge fund New Stream Secured Capital Inc. oppose its plan for financing while under Chapter 11 protection that includes the sale of a portfolio of life insurance policies, according to documents filed Monday in a Delaware bankruptcy court.

New Stream's financing plan benefits a McKinsey & Co. affiliate that is purchasing the life insurance policies, the three-member unsecured creditors committee said in the U.S. Bankruptcy Court for the District of Delaware.

The committee criticized New Stream for choosing to sell to McKinsey affiliate MIO...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.