Dura's Creditors Attack Bondholder's Fee Bid

Law360, New York (April 17, 2008, 12:00 AM EDT) -- Creditors of Dura Automotive Systems Inc. have lashed out at an investment bank that claims it owns more than $100 million of the bankrupt company's bonds, saying the bank's bid for administrative fees should be denied because it hasn't made a substantial contribution to the Chapter 11 proceedings.

James W. Korth of J.W. Korth & Co. is not the independent fiduciary he claims to be, the official committee of unsecured creditors said in documents filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.