Patriot National's Plan Releases Too Broad, Ch. 11 Judge Says
Law360, Wilmington (April 24, 2018, 10:01 PM EDT) -- Insurance services firm Patriot National Inc. will have to trim releases included in its Chapter 11 plan of reorganization after a Delaware judge agreed Tuesday with the United States Trustee’s objection over the wide scope of the proposed releases.
During a confirmation hearing in Wilmington, U.S. Bankruptcy Judge Kevin Gross agreed with the position of the trustee as it pertained to certain individuals and entities covered by the proposed releases in the proposed plan of Patriot National, sustaining that facet of the trustee’s objection to confirmation.
“I do think the releases are overly broad and the parties are going to get...
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