Eliminating Purchase Price Disclosures

Law360, New York (June 6, 2011, 2:51 PM EDT) -- In Chapter 11 bankruptcy cases, creditors and equity holders with common interests often find it advantageous to pool resources and form an ad hoc group or committee. Because the committee represents a larger amount of claims or interests, it speaks with more authority in the bankruptcy case, and the members are able to save money by sharing the cost of legal and financial advisers. In recent years, however, bankruptcy courts have enforced disclosure requirements under Federal Rule of Bankruptcy Procedure 2019 to require that ad hoc...
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