Trustee Bid In Revstone Ch. 11 Delayed To Allow PBGC Talks
By Matt Chiappardi
Law360, Wilmington (December 11, 2013, 3:52 PM EST) -- A Delaware bankruptcy judge agreed Wednesday to delay considering whether to appoint a trustee in the contentious Revstone Industries LLC Chapter 11 case after hearing the debtor was negotiating with the Pension Benefit Guaranty Corp. to address its $67 million in claims and with others to forge a global settlement.
U.S. Bankruptcy Judge Brendan L. Shannon said he would postpone deciding on requests from the official committee of unsecured creditors and the PBGC to have an overseer for the auto parts conglomerate's year-old case in order...