April 27, 2018 / 4:03 AM / 5 months ago

SEC takes issue with releases in Remington's plan to exit bankruptcy

The Securities and Exchange Commission on Thursday objected to gunmaker Remington Outdoor Co Inc’s plan to emerge from bankruptcy, saying in court papers it is concerned about the plan’s liability releases.

While the releases for third parties - which release claims against a reorganized Remington, its lenders, professionals and current and former officers and directors - exclude claims for fraud, willful misconduct and gross negligence, they do extend to a wide range of other matters and do not appear to be consensual, the SEC said.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2Hx0qZe

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