Furniture Factory Approved For Ch. 11 Plan With Releases

By Vince Sullivan (September 16, 2021, 5:51 PM EDT) -- Bankrupt retailer Furniture Factory Outlet received court approval Thursday from a Delaware judge for its Chapter 11 plan of liquidation, overruling an objection from the Office of the United States Trustee to the third-party releases included in the plan.

During a virtual hearing, U.S Bankruptcy Judge J. Kate Stickles of the District of Delaware said the hundreds of unsecured creditors who will be granting releases to third parties involved in the case had been provided with a clear explanation of their rights in the vote solicitation packages and had been given the opportunity to refuse to give the releases.

"I find...

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