Creditors Seek To Intervene In Cerion, PPI Sale Spat

Law360, New York (March 26, 2009, 12:00 AM EDT) -- Unsecured creditors in Precision Parts International Holdings Inc.'s Chapter 11 bankruptcy proceedings have filed a motion to intervene in the adversary proceedings opened by Cerion LLC, the presumptive buyer of PPI's assets.

In the motion, filed Tuesday in the United States Bankruptcy Court for the District of Delaware, the official committee of unsecured creditors said its constituents “stand to lose ground if Cerion's suit is successful and thus have a direct and immediate stake in the outcome.”

Cerion opened adversary proceedings Friday, alleging that PPI had...
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