M. Fabrikant Creditors Cry Foul At Expungement Bid

Law360, New York (December 4, 2007, 12:00 AM EST) -- With a confirmation hearing only two weeks away, a group of M. Fabrikant & Sons Inc.'s creditors has charged the general unsecured creditors committee with attempting to purposely leave them out of the voting process on the bankrupt diamond wholesaler's Chapter 11 liquidation plan.

On Monday, the so-called Alpha creditors protested an objection filed earlier by the committee, with the latter group seeking to disallow the claims of the former due to a few insiders allegedly receiving avoidable transfers.

“The objection was filed without even the...
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.