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Judge Approves Lipstick Building Ch. 11 Prepack Plan

Law360 (December 23, 2010, 4:45 PM EST) -- A bankruptcy judge has signed off on the Chapter 11 plan proposed by the owner of New York's iconic Lipstick Building, where Bernard Madoff had his offices, setting up a quick and smooth end to the real estate company's prepackaged restructuring.

Judge Shelley C. Chapman approved Metropolitan 885 Third Avenue Leasehold LLC's reorganization plan, disclosure statement and assumption of certain executory contracts in the U.S. Bankruptcy Court for the Southern District of New York on Wednesday.

"We're delighted we emerged with our prepackaged plan in 36...
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