Fedders creditors committee withdraws examination motion

By Caroline Salls

Pittsburgh, Dec. 11 - Fedders Corp.'s official committee of unsecured creditors has withdrawn its motion requesting an examination of investment banker Chanin Capital Partners, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the committee was seeking information on the proposed sale of substantially all of Fedders' assets.

According to the motion, the asset sale is the "single most critical aspect" of Fedders' bankruptcy case, and the committee needs to be informed of the status of the sale process in order to properly represent the company's unsecured creditors.

Fedders, a Liberty Corner, N.J., producer and marketer of air treatment products, filed for bankruptcy on Aug. 21. Its Chapter 11 case number is 07-11176.

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