Multi-Color Corp. and its secured lenders moved to dissolve a government-appointed group of unsecured creditors, arguing its existence risks success of the company’s bankruptcy reorganization plan.
The committee, appointed by the Justice Department’s bankruptcy watchdog, will be costly and some members have conflicts of interest, the label-maker said in a motion filed Wednesday in the US Bankruptcy Court for the District of New Jersey.
“There is no justification for imposing the costs of a committee on the Debtors’ estates nor adding further risk of value-destructive disruption to the timeline in these chapter 11 cases,” Multi-Color said in the motion to ...
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