Trustee Slams Release In International Aluminum Plan

Law360, New York (April 13, 2010, 3:45 PM EDT) -- The U.S. trustee overseeing International Aluminum Corp.'s bankruptcy has taken issue with a third-party release provision in the company's Chapter 11 reorganization plan, saying it would unfairly prevent some parties from filing future claims.

Acting U.S. Trustee Roberta A. DeAngelis filed an objection Friday in the U.S. Bankruptcy Court for the District of Delaware, saying the plan contains an unlawful provision that would release all the "released parties" — those who vote for the plan or are entitled to plan distributions — from future claims....
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