Lugano liquidation plan advances to solicitation
The court moved Lugano’s Chapter 11 liquidation plan into solicitation, approving the disclosure statement on an interim basis along with ballot, tabulation and notice procedures. The solicitation procedures order sets August 18, 2026, at 4:00 p.m. ET as both the voting deadline and the deadline to object to confirmation and final disclosure-statement approval. The combined confirmation hearing is scheduled for August 31 at 11:00 a.m. ET.
The order expressly declined to approve the proposed opt-out mechanism for third-party releases and preserved challenges asserting that those releases are nonconsensual. Solicitation can therefore proceed, but the release structure remains a live confirmation dispute that could affect creditor consent, plan consummation and the scope of protections available to nondebtor parties.