Bankruptcy judge lets disputed release in rue21 Ch. 11 plan stand


From Reuters

Teen fashion retailer rue21 inc was cleared to exit bankruptcy buoyed by a court ruling that knocked down an attempt by unsecured creditors to preserve claims against the company’s private equity owner.

Judge Gregory Taddonio of the Bankruptcy Court in Pittsburgh took rue21’s official committee of unsecured creditors to task on Friday for backing the company’s plan to exit bankruptcy while challenging the release of Apax Partners LLP from liability.

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