TridentUSA Ch. 11 Plan Slammed For Risking 'Repeat Failure'
Law360 (June 18, 2019, 10:12 PM EDT) -- Health care provider TridentUSA's Chapter 11 plan is facing challenges from the U.S. Trustee Office and the company's unsecured creditors, who said the plan's liability releases are too broad and that it would leave the company primed for a return to bankruptcy.
In addition to arguing the plan would leave post-Chapter 11 TridentUSA Health Services LLC with a dangerously high debt and commit it to an unsustainable level of capital spending, the unsecured creditors committee's objection filed Monday joined with U.S. Trustee William Harrington's Monday objection in saying the plan contains unjustifiably broad third-party releases.
"Most notably, general unsecured claimants are...
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