- 11 U.S.C.
In re SL Liquidating
May
14
2010
Ruling
Confirmation of liquidation plan denied due to non-consensual third party releases.
Procedural posture
In a chapter 11 liquidation bankruptcy case, the United States Trustee, high level management retirees of the debtors, and a lessor of the debtor, filed objections to confirmation of the plan of liquidation. They contended that the plan's non-consensual third party releases of certain non- debtor entities, including officers and directors of the debtor, violated applicable law.
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Court
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