Claimant Urges Judge To Reject Musicland Statement

Law360, New York (October 9, 2006, 12:00 AM EDT) -- Months after Musicland presented a controversial liquidation plan, the lead plaintiff in a class action against the entertainment giant has objected to the bankrupt company’s disclosure statement, a key component of its planned emergence from Chapter 11.

On Friday, claimant Maureen MacLennan protested the proposed statement in U.S. Bankruptcy Court for the Southern District of New York on the grounds that the document failed to mention the earlier class action settlement.

“The principal objection of the class claimant is that the disclosure statement apparently fails to...
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