Court Approves MPC Liquidation Plan

Law360, New York (March 8, 2011, 8:41 PM EST) -- MPC Computers LLC won a Delaware bankruptcy court's approval Tuesday for its Chapter 11 liquidation plan, after resolving an objection from the U.S. Internal Revenue Service based on a grossly inflated claim.

Judge Peter J. Walsh signed off on the plan at a hearing in the U.S. Bankruptcy Court for the District of Delaware.

Justin Falgowski of Reed Smith LLP said at the hearing that a previous attempt to confirm the plan was thwarted by a $200 million priority claim filed by the IRS that called...
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