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Kmart seeks $327M in refunds after landmark ruling.

Publication: Crain's Detroit Business
Publication Date: 01-MAR-04
Format: Online
Delivery: Immediate Online Access
Full Article Title: Kmart seeks $327M in refunds after landmark ruling.(News)

Article Excerpt
Byline: Brent Snavely

Kmart Holding Corp. said last week that a 3-0 ruling by the 7th U.S. Circuit Court of Appeals makes it clear that 2,330 companies should return about $327 million in payments Kmart distributed to vendors during the early stages of its Chapter 11 bankruptcy case.

The decision - viewed by bankruptcy experts as a landmark ruling - raises the level...

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