Beyond Oblivion's Liquidation Plan Gets Nod From Court

Law360, New York (August 21, 2012, 9:27 PM EDT) -- A New York bankruptcy judge on Tuesday signed off on Beyond Oblivion Inc.'s Chapter 11 liquidation plan, as well as a settlement between the failed music startup and Warner Music Inc. and Sony Music Entertainment that limits the labels' payouts from the estate.

U.S. Bankruptcy Judge Allan L. Gropper approved the plan, which establishes a liquidating trust to oversee the company's remaining assets, subject to a few minor changes to the proposed confirmation order, debtor's attorney Gerard S. Catalanello told Law360.

Judge Gropper also agreed to...
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