A holdout creditor of a Chicago suburb’s bankrupt convention center has dropped its bid to derail a $247 million debt-restructuring plan, WSJ Pro Bankruptcy reported. Lord Abbett & Co. said yesterday that it had sold its claims against Lombard Public Facilities Corp. and withdrew an appeal that claimed the public project wasn’t eligible for bankruptcy protection. Lord Abbett had argued that LPFC was too closely connected with the surrounding village of Lombard, a DuPage County suburb 20 miles from downtown Chicago, to qualify for chapter 11.
