Wolverine Tube Ch. 11 Plan OK'd After Bondholder Deal

Law360, Wilmington (June 10, 2011, 3:16 PM EDT) -- A Delaware bankruptcy judge approved Wolverine Tube Inc.'s Chapter 11 reorganization plan Friday, after the copper tube maker struck a deal that reaffirmed its largest bondholder’s support of the plan.

Plainfield Asset Management LLC — the company’s largest bondholder at $52 million — cast the reorganization into doubt in May when it withdrew support for the plan, saying certain terms precluding the transfer of stock post-confirmation were inconsistent with a plan support agreement reached at the outset of the bankruptcy.

Wolverine responded with an adversary proceeding...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Wolverine Tube, Inc., et al.,


Case Number

1:10-bk-13522

Court

Delaware

Nature of Suit

Date Filed

November 1, 2010

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.