Legal bills pile up as Tupperware bankruptcy progresses
The creditors behind Tupperware’s new owner Party Products LLC said from the start they didn’t want to blow money on bankruptcy proceedings.
In Delaware bankruptcy court on Sept. 19, an attorney for the Ad Hoc Group — those same creditors — said as much.
“We didn't believe that the best way to [keep Tupperware going] was through a very costly Chapter 11 where funds would be needed to pay for the professionals, pay for the case rather than to be reinvested into the company to revitalize the company's business,” said Allan S. Brilliant, partner at Dechert LLP law firm.
Rather, the Ad Hoc Group wanted a foreclosure.
