MSD Resists Lenders' Efforts To File Alternate Ch. 11 Plan

Law360, Wilmington (September 25, 2013, 5:02 PM EDT) -- Bankrupt high-performance auto parts maker MSD Performance Inc., pushed back late Tuesday against a move by senior secured creditors to file their own Chapter 11 debt restructuring plan as an alternative to the going-concern sale that is the debtors’ goal.

MSD Performance laid out its argument against a request by a group of lenders led by Madison Capital Funding LLC — which control about 40 percent of MSD’s pre-petition secured debt — to terminate the debtors' ability to exclusively file a Chapter 11 plan in an...
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