Highland Capital Management LP is seeking bankruptcy court approval of a Chapter 11 plan that would stave off interference from co-founder and former President James Dondero.
The proposed Chapter 11 plan, the subject of a two-day hearing in the U.S. Bankruptcy Court for the Northern District of Texas that ended Wednesday, includes exculpation provisions that would indemnify an independent director and others involved in company restructuring if they end up owing a judgment from possible lawsuits.
The plan also includes a “gatekeeper” provision that would require the bankruptcy court to vet the validity of future litigation against the reorganized ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.