Judge OKs Werner Liquidation Plan

Law360, New York (October 26, 2007, 12:00 AM EDT) -- A judge has signed off on the liquidation plan of bankrupt ladder company, Werner Holding, Inc., allowing the company to finish winding down its operations.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware approved the company's second amended liquidation plan and its disclosure statement on Thursday.

The judge set up a liquidation trust, saying that it was an essential element of the plan, and named Charles Stanziale as the liquidation trustee.

The plan stipulates that holders of administrative and priority...
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