PE Firm Balks At Probe Request In Gulfco Ch. 11

Law360, Wilmington (February 13, 2014, 2:51 PM EST) -- Prospect Capital Corp., a major creditor in oil drilling equipment holding company Gulfco Holding Corp.'s bankruptcy, decried Wednesday the debtor's request for an investigation of the lender, arguing the probe is just a fishing expedition for information to support “baseless allegations.”

In an objection before the Delaware bankruptcy court, Prospect contends that Gulfco's request for an examination under rule 2004 of the Bankruptcy Code is just a way to gather data for the adversary action it lodged in late January, but under more lenient discovery procedures....
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