US Trustee Objects To Crescent Resources Plan

Law360, New York (May 5, 2010, 12:51 PM EDT) -- The U.S. trustee for bankrupt real estate company Crescent Resources LLC has objected to provisions in the company's plan of reorganization releasing nondebtors from claims after the plan takes effect.

In a motion filed Thursday in the U.S. Bankruptcy Court for the Western District of Texas, trustee Charles McVay said he did not oppose the confirmation of the debtor's plan but that the nondebtor releases and exculpation clause should be struck from the plan.

The nondebtor releases and exculpation clause release various nondebtor parties, including the...
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