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Aeropostale Ch. 11 Plan, 3rd-Party Releases Approved

Law360, New York (March 28, 2018, 8:08 PM EDT) -- The bankrupt estate for teen fashion retailer Aeropostale can carry out a Chapter 11 liquidation plan that drew opposition from federal officials, a New York bankruptcy judge ruled Wednesday, saying the plan’s disputed third-party litigation releases are justified by the history of the case and considerable lender contributions.

Shedding light on a set of legal questions that have increasingly appeared at the close of large Chapter 11 cases, U.S. Bankruptcy Judge Sean H. Lane granted a group of nondebtor parties that participated in Aeropostale’s nearly two-year...
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