The judge overseeing the bankruptcy of snack maker Hearthside Food Solutions said he’ll approve its restructuring plan pending modifications to the deal’s releases of wage and labor law claims.
The plan sheds nearly $2 billion in funded debt to help the company restructure. It includes $5.5 million in cash for general unsecured claims, which is more than double a previous offer, Hearthside attorney Stephen Iacovo of Ropes & Gray LLP said during a Monday hearing in the US Bankruptcy Court for the Southern District of Texas.
The US Trustee, the Justice Department’s bankruptcy watchdog, objected to the plan’s releases for ...
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