Conseco sued over debt plan. (Companies).Conseco Inc. is being sued by a group of funds group of funds See family of funds. associated with a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of money manager over the recently renegotiated terms of the struggling financial-services company's outstanding debt. Seven funds associated with money manager Angelo, Gordon & Co. filed a lawsuit lawsuit: see procedure; tort. in U.S. District Court for the Northern District of Illinois in Chicago, saying Conseco is bound by its original loan agreements. The lawsuit seeks a declaratory judgment declaratory judgment In law, a judgment merely declaring a right or establishing the legal status or interpretation of a law or instrument. It is binding but is distinguished from other judgments or court opinions in that it includes no executive element (an order that forcing Conseco to honor its previous loan agreements, plus attorney fees, costs and "other relief." |
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