NewPage Trustee Leads Clawback Blitz Seeking $71M

Law360, Wilmington (September 4, 2013, 10:12 PM EDT) -- The litigation trustee for NewPage Corp. let loose another wave of lawsuits Wednesday, swelling a host of avoidance actions that seek to claw back some $71 million for the benefit of the reorganized paper maker's unsecured creditors.

Litigation trustee Pirinate Consulting Group LLC launched more than 150 suits in Delaware bankruptcy court Wednesday aimed at recovering allegedly preferential payments made during the run-up to company's Chapter 11 filing.

The cases are part of a complement of 776 complaints brought in the past week targeting some $71...
To view the full article, register now.

Related

Sections

Case Information

Case Title

NewPage Corporation


Case Number

1:11-bk-12804

Court

Delaware

Nature of Suit

Date Filed

September 7, 2011

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.