Judge Approves New Stream's Creditor-Backed Ch. 11 Plan

Law360, Wilmington (April 23, 2012, 8:06 PM EDT) -- New Stream Secured Capital Inc. on Monday won Delaware bankruptcy court approval of its liquidation plan, which was delayed for a year as creditors scuffled over the remains of the hedge fund’s life settlement investment business.

The plan is premised on a global settlement of various thorny intercreditor disputes and pays back creditors with $127.5 million raised from the sale of New Stream's life settlement investment portfolio. In May, the court approved the sale of the portfolio to an affiliate of McKinsey & Co.

The Ridgefield,...
To view the full article, register now.




Case Information

Case Title

New Stream Secured Capital, Inc.

Case Number




Nature of Suit

Date Filed

March 13, 2011

Law Firms


Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.