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During a hearing last week, Judge Karen Owens of the Bankruptcy Court for the District of Delaware approved True Value’s Chapter 11 bankruptcy plan and disclosure statement. The court adjourned for a brief time to allow the debtors to address outstanding objections of the plan from Fifth Third Bank and Bank of Montreal and reconvened after those objections were addressed.
“Thank you for working so productively for this hearing as well as all the events leading up to this moment,” Judge Owens says. “This case certainly raises interesting issues, but we are here, which is good. I’m glad we could get to it. It’s taken a lot of hard effort and I appreciate those efforts.”
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