Reader's Digest Refutes Trustee's Criticism Of Plan

Law360, New York (November 19, 2009, 12:47 PM EST) -- The Reader's Digest Association Inc. has argued that it should be allowed to continue with its cash management plan, despite a U.S. trustee's concerns that estate money might be kept in institutions that are not authorized depositories.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Reader's Digest responded to Diana Adams' Oct. 21 objection, which demanded it provide more information about funds squirreled away in various domestic and foreign bank accounts.

Reader's Digest said it had “conformed”...
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