Bloomberg Law
Feb. 1, 2021, 8:20 PM

Remington Cleared for Voting on Bankruptcy Liquidation Plan

Daniel Gill
Daniel Gill

Remington Outdoor Co. Inc. can solicit votes for its liquidation plan after a bankruptcy judge conditionally approved the gun manufacturer’s disclosures.

Judge Clifton R. Jessup Jr. of the U.S. Bankruptcy Court for the Northern District of Alabama will consider final approval of Remington’s disclosure statement March 8.

The plan, which follows the $157 million sale of most of Remington’s assets, would create two trusts: a creditor trust and a sub-trust for tort claimants.

Sandy Hook Families—a group that sued Remington over the 2012 elementary school shooting—and others with litigation claims against the company would be able to pursue insurance proceeds ...