US Trustee Rips Pfizer Unit Quigley's Newest Ch. 11 Plan

Law360, New York (August 9, 2012, 10:43 PM EDT) -- A U.S. trustee on Wednesday knocked the latest disclosure statement from bankrupt Quigley Co. Inc., saying the Pfizer Inc. subsidiary had failed to explain how its recently proposed Chapter 11 reorganization differed from the plan the New York court refused to confirm two years earlier.

The court should reject Quigley's new disclosure statement, U.S. Trustee Tracy Hope Davis said in her objection, because it not only lacks adequate information for creditors, but also supports a Chapter 11 plan that is “patently unconfirmable.”

Moreover, Davis said that...
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