Creditor Committee OK'd In Lear Capital Subchapter V Case

By Rick Archer (June 24, 2022, 4:53 PM EDT) -- A Delaware bankruptcy judge has approved a settlement that will allow the formation of a committee to represent Lear Capital Inc.'s customers in the metal and coin investment firm's Subchapter V bankruptcy and extend case deadlines by three months to allow plan talks.

U.S. Bankruptcy Judge Brendan Shannon approved the deal Thursday. It also reopens the case for creditor claim submissions, calls for regulators in almost three dozen states to refrain from filing new suits against Lear and sets up the case's Subchapter V trustee as a mediator to attempt to hammer out a mutually agreeable bankruptcy plan.

"The settlement will...

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