Judge Approves AMS' Disclosure Statement

Law360, New York (September 28, 2007, 12:00 AM EDT) -- The judge overseeing the Chapter 11 proceedings of Advanced Marketing Services Inc. has signed off on the disclosure statement submitted in connection AMS and its unsecured creditors' joint plan of liquidation, a development that brings AMS one step closer to closing the book on its bankruptcy.

On Thursday, U.S. Bankruptcy Judge Christopher Sontchi approved the disclosure statement, established procedures for soliciting and tallying votes on the proposed restructuring plan, and scheduled a confirmation hearing for Nov. 15.

AMS on Wednesday filed the third version of its...
To view the full article, register now.