K-V, Secured Lenders Reach $5M Deal To End Interest Row

Law360, New York (October 30, 2013, 3:06 PM EDT) -- The reorganized K-V Pharmaceutical Co. on Tuesday reached a $5 million settlement with a group of senior secured lenders who had sued to obtain $34.7 million in additional interest on the debt they held.

The pharmaceutical company, which received a bankruptcy judge’s approval to reorganize and be taken over by a group of convertible noteholders in August, had been embroiled in a long-standing dispute with its senior secured lenders over whether they were entitled to post-petition interest on the $235.8 million in debt they said they...
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