Real Mex Creditors Accuse Noteholders Of Gamesmanship

Law360, New York (February 9, 2012, 2:52 PM EST) -- Real Mex Restaurants Inc.'s unsecured creditors on Wednesday attacked the bankrupt company's motion to approve an asset sale to a group of noteholders including private equity investors, saying the noteholders' conduct will deprive them of any recovery.

The official committee of unsecured creditors says it has warned that prepetition noteholders, including Special Value Continuation Partners LP, Tennenbaum Opportunities Partners V LP and J.P. Morgan Investment Management Inc., will be able to use protections granted to Real Mex's debtor-in-possession lender to freeze out general unsecured creditors....
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