Medley's Ch. 11 Plan Gets OK Over Regulators' Objections
By Vince Sullivan (October 7, 2021, 6:19 PM EDT) -- The Chapter 11 plan of asset management firm Medley LLC received approval Thursday from a Delaware bankruptcy judge who overruled objections from federal regulators concerning the flow of funds in the debtor's business organization.
U.S. Bankruptcy Judge Karen B. Owens issued her ruling during a videoconference hearing, saying that a compensation program for employees of nondebtor Medley subsidiaries would provide clear benefits to the debtor and doesn't implicate funds that would otherwise be available for Medley's creditors.
The compensation program drew objections from the Office of the United States Trustee and the U.S. Securities and Exchange Commission, each of which raised...
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