Key Plastics Investor Seeks Info On $75M Wayzata Credit Deal

Law360, Wilmington (June 6, 2013, 10:24 PM EDT) -- An investment fund launched a books-and-records suit at Key Plastics Corp. on Wednesday, saying it seeks to investigate why the automotive supplier is paying allegedly “exorbitant” interest on a $75 million credit facility provided by its controlling shareholder, private equity firm Wayzata Investment Partners LLC.

Minority investor Caspian Select Credit Master Fund Ltd. contends Key Plastics refused previous demands for corporate documents related to the credit facility even though as a shareholder it has a legitimate purpose to access those files, according to a complaint filed...
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