Yucaipa Slams Revisions To Allied's $33.5M Loan, Sale Plan

Law360, Wilmington (June 14, 2013, 5:38 PM EDT) -- Allied Systems Holdings Inc.'s bankruptcy lender and majority owner, Yucaipa Cos. Ltd, said Friday that it's not satisfied with revisions to the company's proposed $33.5 million replacement loan and sale plan, arguing that the replacement private equity lenders would still have too much power.

Yucaipa asked the court to delay a hearing on the matter scheduled for June 19 by two days to gather supporting evidence, but U.S. Bankruptcy Judge Christopher S. Sontchi denied the request late Friday.

The firm argued that the bid to refinance...
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