Tupperware lenders fight over assets as company files for bankruptcy

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The story "Tupperware lenders fight over assets as company files for bankruptcy" was covered 1 weeks ago by Business Standard, a news publisher based in India.

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Tupperware lenders fight over assets as company files for bankruptcy - Business Standard

Quick Summary:

The lenders claimed Tupperware executives were pushing for a Chapter 11 case to insulate themselves from potential lawsuits, a common protection sought in corporate bankruptcies.

In the meantime lenders owed about $800 million are arguing over assets, one of which is the precious Tupperware brand.

Tupperware countered that a foreclosure would hand the lenders all of the company’s best assets and exclude other creditors.