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Jevic Ch. 11 To Convert To Ch. 7 After Denial Of Settlement

Law360, Wilmington (May 21, 2018, 7:57 PM EDT) -- The long-running bankruptcy case of trucking firm Jevic Holding Corp. will convert to a Chapter 7 liquidation after a Delaware judge denied approval Monday of the latest proposed settlement floated by the company and its creditors to dismiss the case.

During a teleconference in Wilmington, U.S. Bankruptcy Judge Brendan L. Shannon said all parties agree that there is no hope of ever confirming a Chapter 11 plan and that the debtor's and committee's joint motion for a structured dismissal of the case was still opposed by...
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