U.S. Trustee Objects To ACandS Plan

Law360, New York (February 27, 2008, 12:00 AM EST) -- The U.S. trustee overseeing ACandS Inc.'s Chapter 11 case is opposing the insulation maker's pending reorganization plan, arguing that the company failed to justify its proposal to release certain claims of some of the claimant groups.

Region 3 U.S. Trustee Kelly Beaudin Stapleton filed an objection Tuesday to ACandS' second amended plan of reorganization, whose accompanying disclosure statement received court approval last December, in the U.S. Bankruptcy Court for the District of Delaware.

A hearing on the plan has been scheduled for April 21, with objections...
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