J.C. Penney Seeks to Bar Claim It Defaulted on Bonds
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J.C. Penney Co., facing a potential threat to its turnaround plans, has come out swinging after debt holders claimed it technically defaulted on a bond.
Yesterday the department store chain filed a lawsuit in Delaware Chancery Court seeking to block efforts by a group of bondholders to declare a default on 7.4 percent bonds due in