November 21, 2018 / 3:31 AM / 22 days ago

U.S. trustee objects to releases in Elements Behavioral Ch. 11 plan

The liquidation plan of bankrupt addiction treatment chain Elements Behavioral Health should not be approved because its third-party releases are overly broad, the U.S. government’s bankruptcy watchdog said on Monday.

Acting U.S. Trustee Andrew Vara’s office in a filing in U.S. Bankruptcy Court in Delaware said the “expansive” releases in the plan would shield parties even from claims stemming from illegal behavior, gross negligence, bad faith or fraud.

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