Selling blockbuster, Chapter 11 options Favor detractors Say Carl Icahn

Some studies and others who are owed money by Blockbuster complain that a sales proposal and Chapter 11 reorganization helps Carl icahn and other noteholders and will cost them millions.

Among those objections as filing Tuesday are Disney, Universal, several landowners and Yahoo. Blockbuster's Committee of unsecured creditors suggests that instead of reorganizing and selling the company, it should be settled so that they are owed money to be paid.

As of now, Blockbuster aims to bring the self selling for $ 290 millionto, a consortium of groups, including the monarch alternative capital, which contain most of the senior debt of Blockbuster-a deal critics say will leave them to dictate who pays the blockbusters and who doesn't.

Some are even noted that these lenders once had agreed to provide Blockbuster with a credit of 125 million dollars in such a way that it could pay for the DVD were providing studios, rental and other expenses.

Lenders, complains of Disney, which is due to 9.2 million from Blockbuster, "fail to advance sufficient funds to pay creditors, but now I have finished the installation and are requisitioning the chapter 11 case to help themselvesleaving the seals and uncompensated administrative creditors. "

Other money due from Blockbuster include universal (6.4 million), Summit (9.5 million) and Fox, who says he will soom be due a $ 7 million.

Blockbuster said in filings that its possible to get a better offer than the 290 million dollars which is now on the table. Potential bidders include NCR, Amazon.com and Best Buy, among others.