United Sporting's Ch. 11 Plan On Hold As Judge Mulls Dispute
Law360, Wilmington (October 21, 2019, 9:32 PM EDT) -- A Delaware bankruptcy judge on Monday held off deciding whether to approve the Chapter 11 plan for sporting goods and firearms distributor United Sporting Cos., saying a strong challenge to the debtor's strategy by a creditor group has raised some issues she hasn't dealt with before.
After a more than seven-hour hearing in Wilmington, U.S. Bankruptcy Judge Laurie Selber Silverstein said she needs more time to consider United's request to substantively consolidate the assets and liabilities of multiple debtor entities in United's parent Sportco Holdings Inc.'s Chapter 11 over the objections of a powerful group of private equity creditors.
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