Furniture Brands Plans $25M Escrow Fund For Claims Against Foreign Subsidiaries

Furniture Brands Plans $25M Escrow Fund For Claims Against Foreign Subsidiaries

WILMINGTON, Del. - Bankrupt Furniture Brands International Inc. (FBI) and the Official Committee of Unsecured Creditors on Nov. 15 moved for approval of a stipulation under which claims against nondebtor foreign subsidiaries would be released in exchange for a $25 million deposit into an escrow fund after FBI holds its asset sale (In Re: Furniture Brands International Inc., No. 13-12329, Chapter 11, D. Del. Bkcy.).

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