We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

IRS, Trustee Object To Foamex Plan

Law360 (January 5, 2007, 12:00 AM EST) -- As Foamex International Inc. prepares to try to convince a bankruptcy judge of the strength of its Chapter 11 reorganization plan, objections have flown into court from parties including the U.S. Trustee and the Internal Revenue Service.

The IRS, which has an $8,612 unsecured priority claim against Foamex, argues that the administrative bar date is unreasonably short. “The IRS objects to the plan to the extent it fails to preserve the setoff and recoupment rights of the IRS.”

The IRS also argues that the plan fails...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.