August 29, 2017 / 10:54 PM / 7 months ago

Search for value in hhgregg's bankruptcy triggers insurance fight

Creditors of hhgregg inc are battling to get their hands on proceeds from an insurance policy of the failed electronics chain, which current and former board members want to use to cover their legal fees stemming from the bankruptcy.

The retailer’s committee on unsecured creditors had issued demand letters in June to the board members to avoid and recover the payments from the policy providing up to $10 million in coverage for directors and officers liability.

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