NewPage Creditors Tap Cerberus For Insider Trading Info

Law360, Wilmington (April 19, 2012, 4:01 PM EDT) -- In pursuit of potential insider trading claims, NewPage Corp.'s unsecured creditors asked a Delaware bankruptcy judge on Wednesday to force majority owner Cerberus Capital Management LP to turn over data on the private equity firm's trades in NewPage debt.

New York-based Cerberus, which holds an 80 percent stake in the bankrupt paper company, has refused to volunteer documents on its millions of dollars of trades in NewPage debt, according to a motion to compel lodged by the official committee of unsecured creditors.

"Given the intimate relationship...
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