Fremont Creditors Score With Disclosure Statement OK

By Erin Marie Daly

Law360, New York (November 19, 2009, 5:09 PM ET) -- Unsecured creditors of mortgage lender Fremont General Corp. have won bankruptcy court approval of the disclosure statement for their Chapter 11 plan, overcoming a late burst of objections from equity holders and banks.

In a ruling Thursday, Judge Erithe A. Smith of the U.S. Bankruptcy Court for the Central District of California overruled all objections and approved the updated disclosure statement, which was filed by the official committee of unsecured creditors in September.

A hearing on confirmation of the reorganization plan is slated for January 2010,...
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