U.S. Trustee Says Maremont’s Plan Cannot Be Approved Without Fraud Protections

Mealey's (March 6, 2019, 1:20 PM EST) -- WILMINGTON, Del. — The reorganization plan of new Chapter 11 debtor Maremont Corp. cannot be confirmed because the procedures for distributing asbestos trust funds to claimants open the door to fraud and abuse, the U.S. trustee argues in his March 4 objection to the plan in Delaware federal bankruptcy court (In re:  Maremont Corporation, et al., No. 19-10118, D. Del. Bkcy.)....