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

Law360, New York (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...
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