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US Trustee Says Sears Ch. 11 Plan Releases Aren't Allowed

By Vince Sullivan ( August 1, 2019, 9:00 PM EDT) -- The federal bankruptcy watchdog objected Thursday to the proposed Chapter 11 plan of retail giant Sears Holdings Corp., saying the plan includes impermissible releases given by third parties and does not adequately ensure that all of the debtor's nearly $500 million in administrative costs will be paid....

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