Court Approves BPP Disclosure Statement

Law360, New York (June 16, 2011, 6:37 PM EDT) -- A bankruptcy court judge in Texas on Wednesday approved a disclosure statement filed by six units of BPP LLC after the hotel operator agreed to amend both the document and its plan to sell off its hotels.

U.S. Bankruptcy Judge Brenda T. Rhoades said the changes made by the BPP units and submitted in an amended disclosure statement Tuesday were acceptable, and set a July 28 confirmation hearing for the debtor's liquidation plan. Under that plan, BPP intends to sell off 22 hotels in Texas, Wisconsin,...
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