John W. Weiss and David E. Sklar Represent Minority Secured Lenders in High-Profile Del Monte Bankruptcy Proceedings
John W. Weiss, chair of the Bankruptcy, Restructuring and Creditors’ Rights practice at Pashman Stein Walder Hayden P.C., and David E. Sklar, associate in the practice, are serving as New Jersey counsel for the Ad Hoc Group of Minority Secured Lenders (the Minority Lender Group) in the jointly administered Chapter 11 bankruptcy proceedings of Del Monte Foods Corporation II, Inc., et al.
The Ad Hoc Group of Minority Secured Lenders has objected to a settlement reached among the Debtors, the Creditors’ Committee, and the Ad Hoc Term Lender Group (the Majority Lender Group), as well as to confirmation of the proposed Chapter 11 plan of reorganization. Pashman Stein has also brought a separate action on behalf of the Minority Lender Group against the Majority Lender Group, based upon a contractual dispute arising in connection with the Debtors’ DIP financing, which included a roll-up of $247.5 million in prepetition debt as to which the Minority Lender Group claims an interest.
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