United Sporting's Ch. 11 Plan OK'd Over Creditor Challenge

By Rose Krebs (November 1, 2019, 8:55 PM EDT) -- A Delaware bankruptcy judge on Friday gave her nod to the Chapter 11 plan of sporting goods and firearms distributor United Sporting Cos. despite a challenge from a creditor group, ruling it is "clear" the plan is the "best chance" for unsecured creditors to get any potential recovery.

During a teleconference, U.S. Bankruptcy Judge Laurie Selber Silverstein gave her support for the plan, saying that unsecured creditors are set to make out better under its terms than they would in a Chapter 7 liquidation. The judge said she would sign off on a confirmation order once final tweaks are made....

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