Capsule International Holdings Preference Actions UPDATE

By way of update to the Capsule International Holdings preference action filings ( see original post here), the Official Committee of Unsecured Creditors (the "Committee") recently filed a Motion for Authority to Settle Classes of Preference Claim Controversies Pursuant to Bankruptcy Rule 9019(b) and to Modify Compromise Procedures (the "Motion").  For a copy of the Motion, click here.

Through the Motion, the Committee seeks the authority to settle certain classes of claims without seeking Court approval under Section 9019(b) of the Bankruptcy Code.  Per the motion, the Committee has filed approximately 80 claims, seeking the recovering of approximately $21 million for the Debtors' estate.