New Ch. 11 Plan To Emerge As GSC Ends Creditor Feud

Law360, New York (December 14, 2011, 8:24 PM EST) -- The Chapter 11 trustee for bankrupt investment management firm GSC Group Inc. reached a handshake deal on Wednesday ending a bitter dispute with creditor Black Diamond Capital Management LLC that delayed a $235 million asset sale.

The agreement — which was jotted down on a piece of paper during a lunch break in a New York court hearing — calls for trustee James L. Garrity Jr. to put his wind-down plan on the shelf while Black Diamond brings to creditors its own idea of how the...
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