MSD's Unsecured Creditors Target Cash-Collateral Motion

Law360, Wilmington (September 27, 2013, 8:42 PM EDT) -- Unsecured creditors of bankrupt MSD Performance Inc. objected Friday to the auto parts maker's bid to continue using cash collateral to fund its Chapter 11 case, saying that certain provisions in the interim order benefit secured lenders at their expense and should be removed.

The official committee of unsecured lenders took aim at adequate protection clauses contained in the interim cash-collateral order, asserting that the provisions are “unduly prejudicial” to their interests and must be stricken or modified from any final order.

“In exchange for the...
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