Trustee Objects To Release Provisions In PCAA Plan

Law360, New York (May 13, 2010, 2:33 PM EDT) -- A U.S. trustee has slammed the reorganization plan of Macquarie Infrastructure Co. Inc. unit PCAA Parent LLC, arguing that it can't be confirmed because certain of its release provisions are unacceptable.

U.S. Trustee Roberta A. DeAngelis lodged her objection to the company's first amended joint Chapter 11 plan in the U.S. Bankruptcy Court for the District of Delaware on Wednesday, the same day that PCAA submitted a memorandum in support of its plan.

DeAngelis took issue with the “broad nature” of the plan's third-party release, which...
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