Friendly’s Corp. Pension Guarantor: Sun Capital Not Allowed To Credit Bid
WILMINGTON, Del. – The statutory guarantor of retirement benefits for employees of bankrupt Friendly’s Ice Cream Corp. on Dec. 5 filed its objection to the subordinated note claim of Sun Capital Partners Inc. on grounds that the note should be recharacterized as equity and that it was received by way of a fraudulent transfer (In Re: Friendly Ice Cream Corporation, No. 11-13167, Chapter 11, D. Del. Bkcy.).
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