U.S. Administrator Challenges Stoneway Capital Ch. 11 Plan Releases

By Jeff Montgomery (April 26, 2022, 8:49 p.m. EDT) — The U.S. Trustee’s Office has urged a New York bankruptcy judge to reject the Chapter 11 plan of Argentine power plant owner Stoneway Capital Corp. unless he obtains his consent to the liability waivers and determines more rigorously who is not eligible for such waivers.

Stoneway, a holding company whose interests include building and operating power plants in Argentina, is scheduled for a May 5 confirmation hearing on its Chapter 11 plan, under terms that include the sale of its power plants and ‘other assets.

The trustee’s objection, filed Monday by General Counsel Brian S. Masumoto in U.S. Bankruptcy Court for…

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