Law360 (February 24, 2021, 3:42 PM EST) -- A New York bankruptcy judge on Wednesday approved a liquidation plan for bankrupt commercial printing company LSC Communications that includes nearly $8 million in payments from the company's former parent for its retirees.
Following a virtual hearing, U.S. Bankruptcy Judge Sean Lane approved the plan — which also includes $7 million for general unsecured claims — despite the U.S. Trustee Office's objection to former LSC parent RR Donnelley's agreement to pay the legal fees of some of the pension plan participants.
"The result for unsecured creditors could not be better in this difficult situation," said Gabriel Sasson, counsel for the unsecured creditors committee....
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