Lenders Move To Stop Confirmed Bashas' Ch. 11 Plan

Law360, New York (August 24, 2010, 3:45 PM EDT) -- A group of lenders including Bank of America NA and Hartford Life Insurance Co. has petitioned a bankruptcy court to postpone the implementation of Bashas' Inc.'s reorganization plan while they appeal the plan's confirmation.

The lenders and insurers filed an emergency motion for a stay in the U.S. Bankruptcy Court for the District of Arizona on Monday, arguing that the plan, which is set to take effect Friday, should be halted to give the group a “a full and fair opportunity to exercise its appellate rights.”...
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