US Concrete Prepack Ch. 11 Plan Approved

Law360, New York (July 29, 2010, 3:34 PM EDT) -- A federal bankruptcy judge approved U.S. Concrete Inc.'s plan of reorganization Thursday, allowing the ready-mix concrete provider to emerge from its prepackaged bankruptcy exactly three months after ducking into Chapter 11 protection.

In a 51-page order, Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware determined that U.S. Concrete submitted the plan “with the legitimate purpose of allowing the debtors to reorganize and emerge from bankruptcy with a capital structure that will allow them to satisfy their obligations with sufficient liquidity...
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