Committees See Holes In Bankruptcy Code Provision

Law360, New York (March 22, 2006, 12:00 AM EST) -- Frustrated with gaping holes in the Bankruptcy Code’s new information-sharing provision, the official creditors committee of Riverstone Networks Inc. is the latest group in a number of Chapter 11 cases that has asked a bankruptcy court judge to clear up some of the ambiguities in the provision.

Since the provision took effect in October 2005, similar clarification requests have been made by creditors committees in several Chapter 11 cases, including Calpine Corp., Refco Inc., FLYi Inc., Amcast Industrial Corp., Musicland Holding Corp. and World Health Alternatives...
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