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Creditors Try To Stick Fork In Buffets' Ch. 11 Plan

Law360 (November 17, 2008, 12:00 AM EST) -- The unsecured creditors are fighting back against the reorganization plan put forth by Buffets Holdings Inc., arguing that the steak buffet chain's plan to escape from bankruptcy has not been proposed in good faith.

On Friday, the official committee of unsecured creditors filed an objection with the U.S. Bankruptcy Court for the District of Delaware, lashing out over a plan that they claim was fashioned without any input from them.

“Simply stated, the plan is not proposed in good faith, is unconfirmable because it represents a...
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