All American Semiconductor Creditors Object To Loan

Law360, New York (May 16, 2007, 12:00 AM EDT) -- The unsecured creditors of All American Semiconductor Inc. have filed a motion objecting to the company’s request to use cash collateral, claiming it will only benefit All American’s secured lenders.

In the motion, filed Tuesday in the U.S. Bankruptcy Court for the Southern District of Florida, the official committee of unsecured creditors objected to a motion filed by All American seeking court permission to use cash collateral, incur postpetition secured indebtedness, and grant security interests and priority claims.

All American’s motion seeks court permission for an...
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