Introduction

In December of 2010, the Official Committee of Unsecured Creditors (the “Committee”), in the Precision Parts International (“PPI”) bankruptcy commenced several avoidance actions against various creditors of PPI.  As reflected in the Committee’s complaints, on November 12, 2010, the Delaware Bankruptcy Court entered an order granting the Committee derivative standing to prosecute avoidance actions

Introduction

PPI Holdings, Inc., an industrial parts manufacturer, filed for bankruptcy in Delaware on December 12, 2008.  As stated in the Declaration in Support of PPI’s First Day Motions,  PPI designs and manufactures metal stamping in a process known as “fineblanking.”  In addition to the automotive market, PPI’s products are used in the construction, agriculture and lawn and garden industries.  Based in Rochester Hills, Michigan, PPI operates six manufacturing facilities in North America.  Read the PPI petition for bankruptcy here.


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