Bankruptcy Judge Allan L. Gropper on Friday approved an investor group's $275 million bid to sponsor a plan to bring the newly resurgent K-V Pharmaceutical Co. out of bankruptcy after "peace broke out" between two warring factions of bidders, Dow Jones Daily Bankruptcy Review reported today. The settlement, announced in court Friday afternoon, brings to an end months of legal sparring between the investor group—Greywolf Capital, Susquehanna International Group, Deutsche Bank Securities Inc. and Kingdon Associates—and a separate group of lenders led by Silver Point Capital. The investor group has agreed to backstop a $238 million rights offering that will form the backbone of K-V Pharmaceutical's chapter 11 plan.
