Anderson Slams Creditors' $75M Claims Against Insiders

Law360, New York (August 12, 2011, 12:19 PM EDT) -- Defunct magazine wholesaler Anderson News LLC on Wednesday criticized creditors’ attempt to pursue roughly $75 million in claims against company insiders in Delaware bankruptcy court, saying they are only trying to harass the estate over a related antitrust case.

The magazine creditors are not entitled to step in and assert fraudulent transfer and fiduciary-based claims on behalf of the company, and are merely clamoring for standing because the estate recently appealed the toss of an antitrust action against the creditors, according to Anderson.

“The standing motion,...
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