Law360 (July 27, 2006, 12:00 AM EDT) -- Bankruptcy creditors of Dow Corning Corp. may be entitled to a higher rate of interest on the roughly $1 billion in debt they hold, according to a Sixth Circuit Court of Appeals ruling on Wednesday.
The court threw out a lower court ruling that granted creditors an interest rate at the federal judgment rate of 6.28%, compounded annually, and remanded the case to the United States District Court for the Eastern District of Michigan for a new ruling.
The Sixth Circuit ruled that the lower court...
Sixth Circuit Nixes Dow Corning Creditors' Interest Rate
To view the full article, register now.
Try Law360 FREE for seven days
Already a subscriber? Click here to login
