Tax Authorities Knock Last-Minute LNT Plan Changes

Law360, New York (February 11, 2010, 4:43 PM EST) -- Objections are piling up against recent amendments to Linens 'n Things’ third amended reorganization plan, with state and other tax claim creditors saying changes to the confirmed plan will let the defunct retailer off the hook for tax liabilities.

The Nevada Department of Taxation, The New York State Department of Taxation and Finance, the Maricopa County [Ariz.] Treasurer and several independent school districts in Texas that are secured ad valorem tax creditors filed objections to LNT’s proposed modifications Wednesday in the U.S Bankruptcy Court for the...
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