Orchids Gets Creditor Deal OK, But Jevic Challenge May Loom

Law360, Wilmington (September 10, 2019, 7:15 PM EDT) -- A Delaware bankruptcy judge on Tuesday gave her nod to a settlement with unsecured creditors over a lender lien dispute in Orchids Paper Products Co.’s Chapter 11 as the U.S. Trustee reserved rights to challenge distributions to be made to creditors given concerns they could defy the 2017 U.S. Supreme Court's Jevic ruling.

At a hearing in Wilmington, U.S. Bankruptcy Judge Mary F. Walrath said she would sign off on the settlement once an order is finalized and submitted to the court. The deal announced last month between the debtors, the official committee of unsecured creditors and prepetition lender Orchids Investment...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!