Corp Group Banking gets a nod to Ch. 11 Plan with releases

By Vince Sullivan (June 15, 2022, 6:33 p.m. EDT) — Corp Group Banking, a bankrupt Chilean holding company, overcame objections from the U.S. bankruptcy watchdog on Wednesday to receive a Delaware judge’s blessing to its Chapter 11 liquidation plan as well as third-party releases that have drawn opposition to the plan.

In a virtual hearing, debtor attorney Andrew L. Magaziner of Young Conaway Stargatt & Taylor LLP said the plan was being presented on a nearly unopposed basis after the company reached an agreement with its creditor groups, leaving only the objections of the US trustee’s office. on the table.

After hearing the testimony of the independent director of Corp Group and the arguments…

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