The U.S. Trustee assigned to the Homer City Generation case filed with the U.S. Bankruptcy Court an objection to the Debtors’ Prepackaged Chapter 11 Plan.
The Trustee asserts, “The Debtor has worked with the U.S. Trustee to resolve almost all of his objections. The parties were unable to resolve two remaining objections (1) the Plan contains non-consensual third party releases that are contrary to applicable law; and (2) the Plan impermissibly seeks to provide ‘exculpation’ to the Reorganized Debtor for any claims ‘arising out of the discharge of the powers and duties’ conferred onto it, including making distributions to holders of pass-through claim.”
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