US Trustee Balks At United Sporting's Lender Releases

Law360 (October 15, 2019, 2:38 PM EDT) -- The federal bankruptcy watchdog on Tuesday objected to United Sporting Cos.' bid to immunize a group of creditors it owes $250 million from future lawsuits via a clause in its proposed Chapter 11 plan, calling the request by the ailing sporting goods and firearm distributor a bridge too far.

In a brief objection, the U.S. trustee said the so-called exculpating provisions included in the current draft of United's plan fly in the face of previous guidance offered by the Delaware bankruptcy court, which clearly states that only estate fiduciaries can benefit from those releases.

That means United can try to shield...

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