By Vince Sullivan (January 25, 2022, 6:52 PM EST) — A Delaware bankruptcy judge on Tuesday approved Colombian payday lender Alpha Latam Management’s Chapter 11 plan disclosure statement, saying the provisions allowing creditors to refuse to grant releases under the plan were acceptable.
During a hearing held virtually, U.S. Bankruptcy Judge J. Kate Stickles heard from the U.S. Trustee’s Office about its opposition to the debtor’s proposal to include the opt-out provision in its plan solicitation filing , but said creditors are required to voice their opposition to parts of the plan they find objectionable.
“If they have a problem with a plan provision or their proposal…
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