Bank Of N.Y. Questions Pacific Lumber Settlement

Law360, New York (May 12, 2008, 12:00 AM EDT) -- Creditors in Pacific Lumber Co.'s bankruptcy case asked the judge on Thursday to allow for expedited discovery for issues still standing in a proposed global settlement, arguing that they needed to make sure the agreement had not been forced upon the debtors.

The Bank of New York Trust Co., Pacific Lumber's biggest creditor, said that it needed to determine whether the proposed settlement, which is set to be heard on May 15, would adversely affect or unfairly prejudice note holders.

Without expedited discovery, it would be...
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