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In re Berwick Black Cattle Co.

Bankruptcy debtors proposed a chapter 11 reorganization plan which provided for releases of claims by third parties against, among others, the primary creditors of the debtors which were financing the debtors' reorganization. The debtors sought confirmation of the plan, and no party in interest objected to the releases.
Plan confirmation denied despite lack of objection due to inappropriate blanket third-party releases.
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Commercial case opionion summary, case decided on September 23,2008, LexisNexis #1208-028