Parmalat's unsecured creditors want to extend investigation of GE Capital, Citibank

By Jeff Pines

Washington, July 27 - Parmalat USA Corp.'s official committee of unsecured creditors asked a bankruptcy court to give the committee more time to investigate General Electric Capital Corp., Citibank NA and its London branch.

The committee is investigating the company's master lease agreement with GECC and its receivables purchase agreement, a pre-Chapter 11 unsecured credit facility, with Citibank.

In a filing Monday with the U.S. Bankruptcy Court for the Southern District of New York, the committee asked the court to give it until Aug. 23. Its current period ends July 30.

Both GECC and Citibank agreed to the extension.

Parmalat filed for bankruptcy on Feb. 24. Its Chapter 11 case number is 04-11139.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.