Highway Tech Creditors Refute Trustee's Settlement Qualms

Law360, Wilmington (August 09, 2013, 10:17 PM ET) -- The creditors committee in Highway Technologies Inc.'s Chapter 11 proceedings said Friday that the U.S. Trustee had “missed the mark” when it took issue with a proposed settlement among creditors, arguing the bankruptcy watchdog had overstated concerns about administrative and priority creditors not being paid enough.

The official committee of unsecured creditors told the Delaware bankruptcy court that the likelihood of Highway Technologies’ case being administratively insolvent is slim, even after the effects of the proposed settlement are factored in, because the terms of the debtor’s...
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