Applebee’s, the Debtors’ adversary in the litigation that has taken center stage for much of these Chapter 11 Cases, potentially stands in the way of the parties’ hard-fought, value maximizing compromise…the Applebee’s Claims assert vastly overstated damages, without support, based on conclusory factual assertions and legal theories, which the Debtors vehemently dispute, and which the Court, with respect to certain claims, has already rejected. If counted for voting purposes in their full asserted amounts, the Applebee’s Claims would potentially allow Applebee’s to silence the voices of the Debtors’ legitimate General Unsecured Creditors. Accordingly, the Debtors are filing this Objection, for the ultimate benefit of their estates and creditors, to ensure that Applebee’s votes in an amount that more closely reflects its economic interest in the Debtors’ estates vis-a-vis other creditors, considering, among other factors, the nature and relative merit of the Applebee’s Claims and the record of the Chapter 11 Cases.”
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The post RMH Franchise Holdings – Objects to Proofs of Claim Filed by Applebee’s, Argues “Vastly Overstated” Claims Threaten to “Silence” Unsecured Creditors appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.