Rite Aid is nearing court approval for its bankruptcy wind-down plan as it works out last-minute details of a deal to resolve the Justice Department bankruptcy watchdog’s objections.
The proposed liquidation plan had been opposed by several landlords, pension funds, insurers, and the DOJ’s bankruptcy monitoring unit, the US Trustee, ahead of a hearing this week.
But Rite Aid was able to reach several settlements that are being solidified and will be outlined in a proposed order to be filed soon, company attorney Sean Mitchell of Paul, Weiss, Rifkind, Wharton & Garrison LLP said during a Tuesday hearing in the ...
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