Revstone Rips Creditors' Ch. 11 Plan Over PBGC Claim

Law360, Wilmington (August 19, 2013, 4:42 PM EDT) -- Bankrupt Revstone Industries LLC fired a shot Sunday at a Chapter 11 plan filed by the creditors committee, arguing that it is unconfirmable because it, among other things, does not fully address more than $67 million in claims from The Pension Benefit Guaranty Corp.

The auto parts conglomerate lodged its criticism by objecting to the plan's disclosure statement, which is scheduled to be considered Wednesday by the U.S. Bankruptcy Court for the District of Delaware, adding that the document does not provide enough information about the...
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