GMX's Ch. 11 Plan Can't Be Confirmed, Trustee Says
U.S. Trustee Richard A. Wieland claims that GMX's reorganization cannot be approved as it violates the Bankruptcy Code by including releases for nondebtor parties, according to an objection filed in Oklahoma court.
The releases fail to pass muster under the code because GMX's plan — which calls for transferring the bulk of its assets to a group of...
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