Womenswear retailer Coldwater Creek Inc., after a quick liquidation, won bankruptcy court approval of its liquidating Chapter 11 plan Sept. 17, thanks to a previously-approved settlement between secured lenders and the official creditors’ committee (In re Coldwater Creek Inc., Bankr. D. Del., 14-10867, plan confirmed 9/17/14).
Before the settlement, the committee was opposing plan provisions that would have precluded lawsuits against company managers, secured lenders and owners.
At the confirmation hearing, U.S. Bankruptcy Judge Brendan L. Shannon signed an order approving the plan. All voting creditors classes were in favor.
The settlement resulted in a $5.4 million ...
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