Maxus Ch. 11 Plan Releases Excessive, US Trustee Says
While Maxus has argued that language excusing the company's liquidating trustee, oversight committee and any professional advisers from liability for "punitive, exemplary, consequential or special damages under any circumstances" is necessary to induce trustees to serve, U.S. trustee Andrew R. Vara on Wednesday called the clause excessive.
"The bolded provisions are inappropriate and provide a greater exculpation to the...
To view the full article, register now.