Hartford Slams Sportsman's Warehouse Ch. 11 Plan

Law360, New York (June 18, 2009, 12:00 AM EDT) -- Hartford Fire Insurance Co. is protesting a disclosure statement related to the plan of reorganization for bankrupt Sportsman's Warehouse Inc., arguing that the plan could unnecessarily release nondebtor third parties from their indemnity obligations to the insurer under prepetition agreements.

In an objection filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware, Hartford said the statement was overly broad and “vague about who the plan releases, what claims are being released and the basis for providing such extraordinary relief to nondebtors.”

The disclosure...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.