U.S. Trustee Mostly Pleased With Fairbanks’ Plan, Disclosure Statement

(April 20, 2021, 2:29 PM EDT) -- ROME, Ga. — While Chapter 11 debtor The Fairbanks Co. has included safeguards against fraud in its plans for an asbestos trust in its recently filed plan of reorganization, the plan’s exculpation clause is too broad and needs reworking, the U.S. trustee says in an April 11 response to the debtor’s motion in Georgia federal bankruptcy court to approve the plan’s disclosure statement....