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Liquidation Plan For Delta Mills Wins Court Approval

Law360 (October 10, 2007, 12:00 AM EDT) -- A Delaware bankruptcy court has signed off on Delta Mills Inc.’s liquidation plan in its Chapter 11 case after the apparel maker smoothed out a dispute with its biggest secured creditor.

On Tuesday, Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District Court of Delaware approved the plan, which outlines how the Beattie, S.C.-based company plans to distribute leftover funds to creditors.

GMAC Commercial Finance LP had opposed the plan because it was unsatisfied with how Delta Mills planned to deal with its...
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