Allied Triumphs In Plan Disclosure Battle

Law360, New York (April 9, 2007, 12:00 AM EDT) -- Overcoming a series of objections from shareholders and a U.S. Trustee, Allied Holdings Inc. on Friday won court approval for its Chapter 11 plan disclosure statement, paving the way for the troubled auto parts maker to send its plan to creditors for a vote.

U.S. Bankruptcy Judge C. Ray Mullins said in an order filed Friday in the U.S. Bankruptcy Court for the Northern District of Georgia that Allied’s disclosure statement, which explains the terms of Allied's proposed Chapter 11 plan, complies with federal bankruptcy rules...
To view the full article, register now.