Challenge To Trucking Co.'s Ch. 11 Deal Gets Booted
By Matt Chiappardi
Law360, Wilmington (January 24, 2014, 5:49 PM ET) -- A Delaware federal judge dismissed laid-off employees' appeal of a settlement that ended Jevic Transportation Inc.’s Chapter 11 case, ruling Friday that the bankruptcy court did not err by approving the deal and that it would be “irreversibly scrambled” if overturned.
U.S. District Judge Sue L. Robinson wrote that a 2012 settlement, among parties including the debtors, their private-equity owners — units of Sun Capital Partners Inc. — a group of secured lenders led by The CIT Group/Business Credit Inc., and the official committee of unsecured...