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Proterra’s plan of reorganization draws objection from U.S. trustee
By Sarah Lizee
Olympia, Wash., Feb. 29 – Proterra Inc.’s fourth amended Chapter 11 plan of reorganization drew an objection from Regions 3 and 9 U.S. trustee Andrew R. Vara, according to documents filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.
Vara said he objects to confirmation of the plan because it provides exculpation for future actions, and it alters the requirement to pay quarterly fees.
The plan hearing is set for March 5.
Burlingame, Calif.-based Proterra designs and manufactures zero-emission electric transit vehicles and EV technology solutions for commercial applications. The company filed bankruptcy on Aug. 7, 2023 under Chapter 11 case number 23-11120.
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