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

Judge Strikes Down Nellson Settlement

Law360 (March 13, 2007, 12:00 AM EDT) -- A federal bankruptcy judge on Tuesday took a U.S. Trustee’s advice and rejected a settlement between Nellson Nutraceutical Inc.’s second-lien lenders and its controlling shareholder, Fremont Capital Partners LLP, that would have inched the company one step closer to exiting Chapter 11.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court in Delaware turned down the deal one day after a hearing on the matter. According to Nellson, a diet food maker, the settlement would have sped its exit from bankruptcy.

However, U.S. Trustee Kelly Beaudin...
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.