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Fedders Creditors Ask To Sue Insiders, Others

Law360 (January 18, 2008, 12:00 AM EST) -- Creditors of bankrupt air conditioner maker Fedders North America Inc. on Thursday asked permission to sue several of Fedders' officers and outside lenders, who they say dragged Fedders into bankruptcy through various forms of misconduct, for up to $150 million.

In a motion filed with Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware, the official committee of unsecured creditors sought to sue several Fedders insiders among others.

Those named include CEO Michael Giordano, as well as the company's directors and...
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