Stoneway Ch. 11 Delayed plan for Mull Purdue release decision

By Vince Sullivan (May 5, 2022, 5:18 p.m. EDT) – A decision on the confirmation of the Chapter 11 plan of the Argentine power plant owner Stoneway Capital Corp. will have to wait after a New York judge said he needed time to consider the implications of a recent district court ruling regarding third-party releases in the Purdue Pharma LP bankruptcy case.

In a telephone hearing on Thursday, U.S. Bankruptcy Judge James L. Garrity said he was prepared to uphold the proposed plan, but that third-party release of claims against nondebtors involved a ruling by December of a New York District Court judge in the Purdue case who found that such discharges prohibited under…

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