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

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.