Bankrupt AMS Objects To $18M In Publishers' Claims

Law360, New York (July 26, 2007, 12:00 AM EDT) -- Beleaguered book marketer Advanced Marketing Services Inc. has asked a bankruptcy court for an order throwing out more than $18 million in allegedly duplicate claims by creditors.

AMS, and its book distributing units Publishers Group Inc and Publishers Group West Inc., filed a first omnibus objection Wednesday in the Delaware bankruptcy court, arguing the claims should be disallowed or reclassified.

The company, which sought protection under Chapter 11 in December 2006 and is operating as debtor in possession thanks to a $75 million loan from Wells...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.