Pemco Creditors Seek To Recover 'Fraudulent' Fees

Law360, New York (June 1, 2012, 8:17 PM EDT) -- The creditors of beleaguered commercial aircraft maintenance firm Pemco World Air Services Inc. on Wednesday sought to sue Pemco owner Sun Capital Partners Management LLC and others over a two-year management fee it sought to recover as a fraudulent transfer.

In a motion filed in Delaware bankruptcy court, the official committee of Pemco’s unsecured creditors said its investigation into the liens held by Pemco’s senior lenders had shown that it could attempt to recover the management fees, which were charged for roughly two years before the...
To view the full article, register now.
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.