Banks Object To Fabrikant Liquidation Plan

Law360, New York (April 25, 2008, 12:00 AM EDT) -- A group of lenders has objected to M. Fabrikant & Sons Inc.'s latest proposed Chapter 11 liquidation plan, saying that if approved, it would prejudge a dispute between the lenders and the company's creditors.

The objection was filed on Tuesday by JPMorgan Chase Bank NA, ABN Amro Bank NV, Bank of America NA, HSBC Bank USA and others.

It said the latest plan, filed jointly by Fabrikant and its creditors committee on April 16, improperly addressed the banks' right to recover attorneys' fees in an adversary...
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