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...
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.