N.J. District Court Stays Appeals of LTL Dismissal Order Pending Direct Appeal to 3rd Circuit

TRENTON, N.J. –– A New Jersey federal court in which LTL Management lodged an appeal of an order dismissing its bankruptcy proceedings has ordered the appeal stayed pending a ruling by the 3rd Circuit U.S. Court of Appeals on a petition for direct appeal.

The U.S. District Court for the District of New Jersey entered orders in two separate appeals on Oct. 10. One appeal was brought by LTL, the other brought by the Ad Hoc Committee of Supporting Counsel.

“…[I]f the 3rd Circuit grants the petition for direct appeal, these appeals will proceed directly to the 3rd Circuit U.S. …