Cumulus' Ch. 11 Plan Releases Draw US Trustee Scrutiny

Law360, New York (January 8, 2018, 6:01 PM EST) -- Bankrupt radio giant Cumulus Media Inc. should be required to revise language in its Chapter 11 plan solicitation materials to clear up concerns over broad third-party litigation releases and how creditors might avoid consent to those provisions, an attorney for the U.S. trustee said in a Monday court filing.

Urging a New York bankruptcy judge to reject Cumulus’ so-called disclosure statement, which details the facets of the company’s Chapter 11 reorganization plan, an attorney for U.S. Trustee William K. Harrington warned that in its current form,...
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