Judge alongside Lender in NC Sawmill’s Ch. 11-vote challenge

By Rick Archer (March 8, 2022, 3:53 PM EST) – A Delaware bankruptcy judge ruled Tuesday that unsecured creditors can’t stop a lender from voting on a North Carolina sawmill’s Chapter 11 plan , before interrupting the confirmation hearing to send the debtor and lender into plan talks.

In a virtual hearing, Judge Karen Owens allowed Carolina Sawmills LP to vote against Klausner Lumber Two LLC’s Chapter 11 plan despite the unsecured creditors’ committee challenging her $108 million in claims. She then told Klausner and Carolina Sawmills to try to reach an agreement on the plan’s treatment of cash generated from the sale of Klausner’s assets….

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