Global Power Creditors Object To Settlement

Law360, New York (October 22, 2007, 12:00 AM EDT) -- Creditors of bankrupt Global Power Equipment Group Inc. have filed objections to a settlement agreement between the company, its noteholders and its equity committee, claiming it is unfair to a certain subset of creditors.

On Friday, SNC-Lavalin Power Ontario Inc. filed a motion in the U.S. Bankruptcy Court for the District of Delaware objecting to the settlement agreement as well as a proposed plan support agreement, claiming they are unfair to creditors of Global Power subsidiary Deltak LLC. On Monday, another Deltak creditor, Navasota Wharton Energy...
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