Oaktree Capital Management LP urged a bankruptcy judge to shut down creditor litigation and deny standing to sue over the fund manager’s deal converting TPI Composites Inc. preferred equity into senior secured debt.
TPI’s unsecured creditors shouldn’t be permitted to continue pursuing a “frivolous, wasteful” lawsuit filed last month that would derail the wind turbine blade manufacturer’s Chapter 11 case, the investment firm argued in a filing Wednesday with the US Bankruptcy Court for the Southern District of Texas.
An appointed committee of unsecured creditors on Oct. 2 leveled claims against Oaktree while simultaneously seeking authority to file the suit ...
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