Sea Containers Removes Hurdle To Confirmation

Law360, New York (February 19, 2008, 12:00 AM EST) -- Sea Containers Ltd. has achieved a crucial benchmark in its Chapter 11 case after reaching a $194 million settlement with two pension schemes whose claims under United Kingdom law had threatened to throw a wrench into the transport company's emergence from bankruptcy.

The debtors in the case filed a motion to approve the settlement Monday in the U.S. Bankruptcy Court for the District of Delaware, arguing that the agreement represented all parties' best interests. A status conference on the motion has been scheduled for Feb. 26....
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