Bicent Creditor Cries Foul Over 'Shortcuts' In Ch. 11 Plan
The plan improperly substantively consolidates the debtors and “gerrymanders” creditor classes to ensure a favorable vote on the plan, all to the detriment of unsecured creditors like Lea Power, according to an objection filed in Delaware bankruptcy court.
Colorado-based Bicent filed for court protection on April 23 with a prearranged plan to refinance $500 million of debt by handing...
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