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M&G Lienholders Say Plant Sale May Not Pay Them In Full

Law360 (March 9, 2018, 7:26 PM EST) -- Parties holding construction liens against plastics and resin maker M&G USA Corp objected Friday in Delaware bankruptcy court to the debtor’s planned sale of a Texas plant, saying the sale price may not be enough to satisfy their liens.

In its preliminary objection and reservation of rights, the construction lienholders group said the planned sale of a Corpus Christi, Texas, plant may not bring in enough cash to fulfill their $180 million in liens for work done to construct the facility, and the group won’t have...
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