Black Crow Sues GE Capital

Suing GE Capital

BLACK CROW MEDIA GROUP is suing secured lender GENERAL ELECTRIC CAPITAL CORP. to subordinate GE's claim and to block it from voting on a reorganization plan, reports BLOOMBERG BUSINESSWEEK. The suit also seeks damages for alleged abuses of the legal process by GE CAPITAL.

BLACK CROW, which owed $38.9 million to GE CAPITAL when it filed for Chapter 11 reorganization in JANUARY, is battling GE CAPITAL's attempts in bankruptcy court to block consolidation of BLACK CROW's companies into a single group of assets. The court has previously given BLACK CROW exclusive rights to file a reorganization plan until NOVEMBER 8th.

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