Lenders To Pay $30M Settlement To Le-Nature's Trustee

Law360, New York (December 7, 2012, 4:35 PM EST) -- A Pennsylvania bankruptcy judge on Thursday approved a $30 million settlement between bottling company Le-Nature's Inc. and two companies, The CIT Group/Equipment Financing Inc. and Krones AG, who allegedly were sucked into the equipment-financing portion of the $668 million fraud that bankrupted Le-Nature's.

U.S. Bankruptcy Judge Thomas P. Agresti approved the pair of settlements he said save Le-Nature's liquidation trustee Marc S. Kirschner litigation expenses while allowing him to litigate other claims and make distributions to creditors.

"The Settlement Agreements end over 4 years of complex,...
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