By Daniel Ducassi (August 23, 2022, 6:06 p.m. EDT) – A co-founder of financially troubled investment firm Highland Capital Management can’t blow up his former firm’s bankruptcy reorganization plan by launching a ” blunderbuss of bankruptcy law” to that, a Fifth Circuit panel ruled.
The three-judge panel on Friday essentially upheld Highland Capital’s reorganization plan, but found the bankruptcy court had overstepped its bounds by shielding nearly all participants in the bankruptcy from litigation related to the bankruptcy, including the implementation of the reorganization plan.
Highland Capital co-founder James Dondero and a group of organizations linked to him challenged the reorganization plan last year, arguing the plan was illegal and taking…
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