Closing Arguments Delivered in LTL Hearing; Movants Say ‘Hypothetical Worst Case Scenarios’ Don’t Constitute Financial Distress

TRENTON, N.J. –– The hearing on motions to dismiss LTL Management LLC’s second Chapter 11 bankruptcy has concluded, with the Debtor stressing during closing arguments that it is, in fact, in immediate financial distress, and the movants countering that LTL “can pay its debts now and in the future.”

The four-day hearing before Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey concluded on June 30. Judge Kaplan has stated previously that he anticipates making his ruling prior to an August hearing date.

“LTL has proven that it will scheme, conspire, and fabricate …