Dynegy Ch. 11 Plan Gets Nod Over Investor's Objections
By Kurt Orzeck
Law360, Los Angeles (June 4, 2013, 8:16 PM ET) -- A New York federal court on Tuesday approved Dynegy Inc.'s bankruptcy plan, finding that a disgruntled investor behind a securities class action couldn't object to the plan because he had opted out of the release of claims against the company's former executives.
Stephen Lucas, the lead plaintiff in the class action, had objected to the extent that the bankruptcy plan affected any of the claims asserted in his securities litigation. But U.S. District Judge John G. Koeltl ruled that, by opting out of the release, he...