U.S. Trustee Sick Over Curative Health's Proposed Plan

Law360, New York (May 4, 2006, 12:00 AM EDT) -- The acting U.S. Trustee in Curative Health Services Inc.’s bankruptcy case blasted the company’s proposed reorganization plan in an objection filed Wednesday, saying that its proposed payments to executives are too high and its protections against future legal claims too liberal.

Trustee Diana G. Adams’ filing, labeled as an objection and comment on the plan, is unequivocal in its dissatisfaction with the company’s Chapter 11 plan.

“The plan contemplates paying insiders in excess of their statutory caps and also releases claims against those insiders,” the objection...
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