Texas Development's Lenders Seek Info On Ch. 11 Plan

Law360, New York (May 13, 2011, 2:30 PM EDT) -- Compass Bank and other secured creditors of the bankrupt Dallas Logistics Hub development demanded more details Wednesday regarding the debtor’s latest reorganization plan, which seeks to scale back the project and shed $60 million in debt.

The secured creditors denounced DLH Master Land Holding LLC’s disclosure statement for its fifth amended Chapter 11 plan, claiming the debtor has failed to provide adequate information about the proposed sale or surrender roughly half of the land, the lynchpin of the restructuring.

The developers of the Dallas Logistics Hub,...
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