U.S. Trustee: Highway Technologies Settlement Not 'Fair And Reasonable'

U.S. Trustee: Highway Technologies Settlement Not 'Fair And Reasonable'

WILMINGTON, Del. - The U.S. trustee in the Chapter 11 bankruptcy of Highway Technologies Inc. on Aug. 2 filed a brief objecting to a motion filed by the Official Committee of Unsecured Creditors in which it sought approval of a settlement agreement among the committee, the prepetition agent, various lenders and the equity sponsors, contending that it did not comply with the Bankruptcy Code (In Re: Highway Technologies Inc., No. 13-11326, Chapter 11, D. Del. Bkcy.).

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