The former head of defunct packaging firm Radnor Holdings Corp. is suing the law firm that led it through its 2006 bankruptcy and the hedge fund that acquired its assets, saying that they colluded to provide the fund, Tennenbaum Capital Partners, with a $100 million windfall, Reuters reported yesterday. Skadden Arps Slate Meagher & Flom, along with Tennenbaum and several legal and financial advisers, were named as defendants in a bankruptcy court complaint on Dec. 26. The plaintiff, former Radnor Chief Executive Michael Kennedy, said that he should be repaid more than $75 million and his company's 2006 sale to Tennenbaum voided. He claimed that Skadden and Tennenbaum concealed a longstanding business relationship and conspired to make sure Radnor wound up in Tennenbaum's hands.
