Judge approves third-party versions of Stoneway Ch. 11 Diet

By Rick Archer (May 11, 2022, 6:15 p.m. EDT) — A New York bankruptcy judge on Wednesday approved Argentine powerhouse owner Stoneway Capital Corp.’s Chapter 11 plan, finding creditors had more than enough to allow them to disable third-party versions of the plan.

In a virtual bench decision, U.S. Bankruptcy Judge James L. Garrity concluded nearly a week of deliberations by determining that the plan’s third-party claim releases against nondebtors were permitted, saying the releases and way to opt out were “visibly disclosed”. in bold” on each ballot.

“The court finds that the parties involved had been clearly informed of the third…

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