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From May 2021 to May 2024
By Becky Yerak
A group of insurers in the Boy Scouts of America bankruptcy got court approval to delay the start of the hearing on whether to approve the youth group's proposed chapter 11 plan.
The confirmation hearing will now begin Feb. 22 instead of Jan. 24. The youth group had opposed the delay, saying it would further deplete financial resources that otherwise could go toward sexual abuse survivors.
Insurers including Travelers, AIG and Allianz said they needed more time to complete discovery and prepare confirmation objections.
Judge Laurie Selber Silverstein in the U.S. Bankruptcy Court in Wilmington, Del., on Tuesday granted the request, saying several depositions still need to be taken and other work done in an evolving case.
Write to Becky Yerak at becky.yerak@wsj.com
(END) Dow Jones Newswires
December 21, 2021 20:29 ET (01:29 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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