Three months after the closure of Boy Scouts of America's bankruptcy case, the settlement trust that the debtor set up for abuse claimants is fielding more claimant questions than ever, according to the U.S. Trustee's Office, which is asking that the organization hold a status conference to provide clarity.
A uniform law governing assignment for benefit of creditors proceedings is gaining steam, with nine states adopting or considering the legislation, making this faster and cheaper bankruptcy alternative a more attractive option for restructuring professionals, experts told Law360.
A team of attorneys from Hunton Andrews Kurth LLP and Latham & Watkins LLP is counseling bankrupt plastics company Trinseo PLC through its prepackaged restructuring proposal.