Banks, Hedge Funds Say Delta Misled Creditors

Law360, New York (October 29, 2007, 12:00 AM EDT) -- A handful of investment banks and hedge funds are seeking to have Delta Airlines Inc.'s reorganization plan revoked, alleging the airline understated claims against subsidiary Comair Inc. by $250 million to ensure approval of the plan and to pave the way for a possible sale of the regional operator.

Bear Stearns Investment Products Inc., Societe Generale SA, Par-Four Investment Management LLC, Cypress Management Master LP and Varde Investment Partners LP filed their adversary suit last Monday in the U.S. Bankruptcy Court for the Southern District of...
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