Creditor Blasts Constar's $69M Stalking Horse Sale Plan

Law360, Wilmington (January 6, 2014, 8:05 PM EST) -- A creditor that says it might be interested in trying to buy bankrupt Constar International Holdings LLC blasted the plastic-bottle maker’s $68.5 million sale plan Monday, arguing the bid procedures give an overwhelming advantage to stalking horse bidder Amcor Rigid Plastics USA Inc.

In an objection filed before the Delaware bankruptcy court, Mexican packaging company Envases Universales SAPI de CV contends that a breakup fee it reckons would come out to nearly $4.4 million, as well as other provisions in the bid procedures, could scare off...
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