We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Trustee Objects To Pierre Plan's Liability Releases

Law360 (December 8, 2008, 12:00 AM EST) -- The U.S. trustee overseeing the bankruptcy case of Pierre Foods Inc. has objected to the company's latest reorganization plan, saying that the plan improperly seeks to release some parties in the case from liability.

In an objection filed Friday in the U.S. Bankruptcy Court for the District of Delaware, U.S. Trustee Roberta A. DeAngelis said that the plan released former officers, directors, members and advisers of the company from liability without offering evidence that the releases were proper.

The trustee also objected to a provision that...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.