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Trustee Wary Of Global Power Deal Details

Law360 (October 19, 2007, 12:00 AM EDT) -- The U.S. Trustee overseeing Global Power Equipment Group Inc.'s Chapter 11 case has objected to a proposed backstop agreement that would help the power-plant equipment manufacturer emerge from bankruptcy protection.

In a motion filed Thursday in the U.S. Bankruptcy Court for the District of Delaware, attorneys for Trustee Kelly Beaudin Stapleton said more information should be provided about the proposed rights offering, including the names of the backstop purchasers.

The motion said there also needs to be further clarification as to when the break-up fee is...
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