Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Sunbeam Able to Advance Recover Proposal
Oct 7, 2002
 Printable format
 Email this Article
 Search

Sunbeam Corp. can move forward with a plan to give secured lenders almost all the shares of the U.S. small-appliance maker and leave bondholders owed more than U.S. $862 million with next to nothing, a federal bankruptcy judge ruled.

Sunbeam's plan to complete its 20-month bankruptcy reorganization gives almost all of the company's shares to its three main lenders, Morgan Stanley & Co., Wachovia Corp., and Bank of America Corp. Bondholders, who are fighting the plan, would get stock options that might have some value depending on Sunbeam's future results. Existing shareholders of the Boca Raton, FL, U.S-based company would get nothing.

Sunbeam's plan includes a release from liability for Morgan Stanley that would nullify a lawsuit by the creditors' panel claiming the financial services firm defrauded bondholders. The panel, in an objection filed last week, said creditors would get nothing in return for the company's annulment of the lawsuit and that the plan is "doomed to fail." (Bloomberg News)

Back to Daily News

 

Daily News

...........................................................

Aug 29, 2014: Adaptive Frequency Drive Increases Trane Chiller Efficiency

Aug 29, 2014: Vitamix President Receives Entrepreneur of the Year Award

Aug 28, 2014: LG Heat Pump Clothes Dryer Earns Emerging Technology Award

Aug 28, 2014: Early Snowthrower Demand Boosts Toro Sales

Aug 27, 2014: Sustainability Standard Launched for Household Portable and Floor Care Appliances

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows