Zohar Clears Del. Ch. 11 Confirmation Over Tilton Objections

By Jeff Montgomery (June 21, 2022, 6:41 PM EDT) – Remnants of the Zohar business turnaround empire once controlled by collateralized debt promoter Lynn Tilton secured a Delaware bankruptcy judge’s Chapter 11 liquidation plan confirmation Tuesday, with multiple challenges and appeals already in the works.

US Bankruptcy Judge Karen B. Owens, ruling from the bench, confirmed the bankruptcy exit blueprint drawn up by the Zohar and related entities after a day-long, in-court argument focused in part on Tilton’s claim that creditor recoveries should be subordinate to those of her Patriarch management company claims.

“The plan was premised on a view that there is insufficient value to get beyond the senior-most noteholder classes,” …

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker