HarrisMartin Publishing: N.J. Bankruptcy Judge Refuses to Dismiss LTL Chapter 11 Proceedings, Extends Automatic Stay

TRENTON, N.J. –– The New Jersey bankruptcy judge overseeing LTL Management’s Chapter 11 proceedings has denied efforts to dismiss the case, acknowledging that his decision will be “met with much angst and concern,” but ultimately concluding that “justice will best be served by expeditiously providing critical compensation through a court-supervised, fair, and less costly settlement trust arrangement.”

In a 56-page opinion released Feb. 25, one week after a five-day hearing on the matter was held, Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey said that he was “unwilling to dismiss this case as …