Bankrupt A&P Floats Bid To Mediate $1.3B In Claims

Law360, New York (September 13, 2011, 7:30 PM EDT) -- Bankrupt supermarket operator Great Atlantic & Pacific Tea Co. lodged a plan on Sunday to pare down roughly $1.3 billion in outstanding personal injury claims through mediation, seeking to sidestep a major obstacle in the struggling chain's restructuring effort.

Some 2,600 claimants would get a crack at the grocer's liquidated assets only if mediation or arbitration fail, under a proposal filed in New York bankruptcy court.

A&P is “focused on resolving the claims as efficiently and expeditiously as possible to bring clarity to the unsecured claims...
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