The owner’s offer of royalties to delay ch. 11 Shot


By Leslie Pappas (September 16, 2021, 5:24 p.m. EDT) – A Delaware bankruptcy judge denied a royalty owner’s request to stay MTE Holdings LLC’s bankruptcy plan pending appeal in district court , estimating that the delay could jeopardize an amount of $ 85.7 million in sales and put too many creditors at risk.

U.S. bankruptcy judge Craig T. Goldblatt said in an opinion filed Wednesday that accepting Allar’s request to delay the plan it confirmed on September 3 “would fundamentally upend the applecart,” particularly because that creditors have painstakingly negotiated specific settlements to ensure the sale to MTE’s reorganization center goes through.

Such a delay could jeopardize the sale itself, endangering …

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