By Vince Sullivan (June 15, 2022, 6:33 PM EDT) -- Corp Group Banking, a bankrupt Chilean holding company, overcame objections from the U.S. bankruptcy watchdog Wednesday to receive a Delaware judge's blessing for its Chapter 11 plan of liquidation along with the third-party releases that drew the opposition to the plan.
During a virtual hearing, debtor attorney Andrew L. Magaziner of Young Conaway Stargatt & Taylor LLP said the plan was being presented on a nearly unopposed basis after the company reached settlement with its creditor groups, leaving just the objections of the Office of the U.S. Trustee on the table.
After hearing testimony from Corp Group's independent director and arguments...
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June 16, 2022 at 05:33AM
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Corp Group Banking Gets Nod On Ch. 11 Plan With Releases - Law360
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