J.L. French Creditors Oppose DIP Loan

Law360, New York (March 3, 2006, 12:00 AM EST) -- Frustrated unsecured creditors of J.L. French Automotive Castings Inc. criticized the company’s terms for its $50 million debtor-in-possession loan and called for a federal judge to withhold final approval of the loan.

Claiming J.L. French’s terms were “inequitable and unreasonable” in court documents Wednesday, the creditors said the current terms of the loan keep J.L. French from finding alternative financials and are overly generous to lenders.

Creditors were concerned that if it was approved, the loan will undermine the rights and duties of J.L. French and...
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