Law360, New York (June 21, 2010, 1:03 PM ET) -- The U.S. trustee in the bankruptcy of Black Gaming LLC has objected to the casino operator's proposed plan of reorganization, saying it improperly provides a discharge of liability to nondebtor third parties.
The third-party release covers all causes of action, except for enumerated carve-outs, related in any way to the debtors, and encompasses numerous nondebtor entities, the trustee said in the U.S. Bankruptcy Court for the District of Nevada on Friday.
“How far the boundaries of this release would extend and how many permutations and combinations...
Black Gaming Trustee Says 3rd-Party Release Too Broad
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