MedLab Gets Judge's Thumbs-Up On Ch. 11 Plan

Law360, Wilmington (July 10, 2014, 7:13 PM EDT) -- A Delaware bankruptcy judge confirmed the Chapter 11 plan for Laboratory Partners Inc., the clinical testing firm also known as MedLab, over the objection of the U.S. trustee's office, which took issue with an exculpation provision in the plan granted to senior lender Marathon Asset Management.

U.S. Bankruptcy Judge Peter J. Walsh said the exculpation was appropriate given that Marathon stepped in as part of a joint venture to buy MedLab's long-term care division, saving roughly 900 jobs and preventing an orderly liquidation of the asset....
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