Remington Outdoor Company is facing objections from families of shooting victims, among others, to its proposed wind-down plan as it nears the conclusion of its chapter 11 case, Reuters reported. The gunmaker, represented by O’Melveny & Myers, will request approval of its plan at a remote hearing on March 8 before U.S. Bankruptcy Judge Clifton Jessup Jr. in Decatur, Alabama. The plan comes after last year’s sales of Remington’s various ammunition and firearm assets. The sales brought in about $157 million to Remington’s estate, which will be used to pay off creditors. In July, Remington filed its second bankruptcy in two years in the face of litigation with families of shooting victims and increased retailer restrictions on gun sales, with $253.7 million in funded debt. Before seeking bankruptcy protection, Remington had been defending itself against a lawsuit brought by families of victims of the 2012 Sandy Hook Elementary School shooting. The case was put on hold as a result of the bankruptcy. The Connecticut Supreme Court in March 2019 ruled the families could sue Remington for wrongfully marketing the Bushmaster AR-15 rifle used by the shooter, Adam Lanza, whom they say was motivated by the advertising to commit his crimes. The U.S. Supreme Court later declined to review the ruling. The company has denied liability for the shooting.
