Multi-Color Creditors Lose Fight to Quickly Dismiss Bankruptcy

Holdout creditors of Multi-Color Corp. lost their bid to quickly throw the label maker out of bankruptcy or move the case to a new court.

• A federal appeals court in Philadelphia rejected the so-called writ of mandamus filed by a group of creditors who argued that Multi-Color did not have any legitimate connections to New Jersey and so the insolvency case should be tossed out or moved to a new location.
• In a one-line order without details, a three-judge panel in the Third Circuit Court of Appeals rejected the creditor request
• The case is In re: Cross-Holder Ad Hoc Group, ...