Palm Harbor Ch. 11 Plan Cleared For Creditor Vote

Law360, Wilmington (September 27, 2011, 7:27 PM EDT) -- A Delaware bankruptcy judge on Tuesday approved the disclosure statement explaining Palm Harbor Homes Inc.’s liquidation plan, allowing the defunct modular-home builder to submit the documents to creditors for a vote.

U.S. Bankruptcy Judge Christopher S. Sontchi signed off on the document after creditors of Palm Harbor’s subsidiaries agreed in court to save their objections concerning the substantive consolidation of the debtors for the plan confirmation hearing Nov. 17.

The plan establishes a liquidating trust and allows holders of convertible senior notes Palm Harbor issued in...
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