On Remand, Bankruptcy Judge Finds No Collusion, Reaffirms GIT's Reorganization

On Remand, Bankruptcy Judge Finds No Collusion, Reaffirms GIT's Reorganization

PITTSBURGH - A Pennsylvania federal bankruptcy judge on Feb. 13 reconfirmed on remand the Chapter 11 plan of reorganization for Global Industries Technologies Inc. (GIT), finding that concerns of the Third Circuit U.S. Court of Appeals about the legitimacy of a trust established by the plan to benefit silica claimants were "unfounded, mistaken, and without record support" (In re: Global Industrial Technologies, Inc., et al., No. 02-21626, W.D. Pa. Bkcy.; 2013 Bankr. LEXIS 594).

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