Tupperware Lenders Oppose Call for Retiree Committee After Sale

A group of Tupperware Brands Corp. lenders contested the company’s request to form an official committee of retired employees, deeming it “wholly unnecessary” as most assets have already been sold in the bankruptcy process.

Tupperware’s recent petition to establish a retiree committee at this stage of the company’s Chapter 11 proceedings should be denied, the lenders, including Bank of America, said in an objection filed Tuesday in the US Bankruptcy Court for the District of Delaware. There are “hardly sufficient funds” to cover legal fees and additional costs would serve “no beneficial purpose” for stakeholders, the lenders said.

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