Day 1 of Motion to Dismiss Hearing in LTL Proceedings Kicks Off; Debtor Officers Testify

TRENTON, N.J. –– The judge overseeing the LTL Management LLC bankruptcy proceedings has kicked off a four-day hearing on motions to dismiss the Debtor’s second attempt at filing a Chapter 11 petition, listening to testimony from a number of witnesses, including LTL’s president, chief financial officer, and chief legal officer.

The hearing, overseen by Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey started on June 27 and is expected to run through June 30. Jim Murdica, who helped negotiate the proposed $8.9 billion settlement is slated to testify first on June 28.

Under …