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Roust Bankruptcy Objection Filed

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The United States of America, including on behalf the IRS, filed with the U.S. Bankruptcy Court an objection to Roust’s Amended and Restated Joint Prepackaged Plan of Reorganization.

The objection asserts, “The Government objects to confirmation of the Plan because Debtors have provided insufficient time for the IRS to consider the Plan and raise any potential objections to it, in violation of several provisions of the Bankruptcy Code….Debtors have also provided insufficient time for the IRS to gather information related to Debtors’ taxes and file a Proof of Claim. The Government objects to the confirmation of the Plan unless and until provisions are made in the Plan for potential tax liabilities arising from 2014 and 2015 federal tax returns that are currently under examination and for 2016 federal tax returns that have not yet been filed.”

Read more Roust bankruptcy news.

The post Roust Bankruptcy Objection Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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