Train Derailment Victims' Ch. 11 Plan Gets Nixed

Law360, New York (April 9, 2014, 7:48 PM EDT) -- A Maine bankruptcy judge on Tuesday rejected the disclosure statement for a competing Chapter 11 plan filed by a group representing the estates of the 47 victims of Montreal Maine & Atlantic Railway Ltd.'s devastating July train derailment, holding that the proposed plan is flawed and unconfirmable.

U.S. Bankruptcy Judge Louis H. Kornreich denied without prejudice the disclosure statement detailing a proposed competing Chapter 11 plan submitted by an unofficial committee seeking to establish a compensation fund for wrongful death and personal injury claimants which would...
To view the full article, register now.