Pitney Bowes Unit Creditors Challenge Oaktree Capital Debt

Oaktree Capital Management LP’s $3.3 million funded debt claim against Pitney Bowes Inc.'s bankrupt e-commerce unit should be disallowed and further investigated, a committee of unsecured creditors said.

The hedge fund holds significant debt issued by shipping firm Pitney Bowes, but it hasn’t lent to debtor DRF Logistics LLC, the committee said in a filing Monday urging the US Bankruptcy Court for the Southern District of Texas to take action against Oaktree.

The creditor group said it’s investigating the funded debt, of which $300,000 won’t be paid back under a pending Chapter 11 plan, to determine whether the debt and ...