Ch. 11 Plan Of Failed FIU Bridge's Builder Faces Objections

Law360, Miami (August 20, 2019, 9:55 PM EDT) -- A bankruptcy judge held off Tuesday on approving a disclosure statement that details the reorganization plan for the lead builder of a pedestrian bridge that collapsed last year, citing "significant" objections by the U.S. Trustee and creditors.

At a hearing in Miami, U.S. Bankruptcy Judge A. Jay Cristol said that while there is a need to keep the Chapter 11 bankruptcy case of Magnum Construction Management LLC moving forward, he was going to delay ruling by about three weeks to see if the parties could sort out concerns about trustees fees, the treatment of unsecured creditors, and the proposed transfer of...

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