L.I.D. To Rework Disclosure Statement

By Jacqueline Bell

Law360, New York (August 20, 2008, 12:00 AM ET) -- A bankruptcy judge agreed Wednesday to a proposal by diamond jewelry maker L.I.D. Ltd. to make changes to its liquidation plan and disclosure statement, though he expressed initial reservations about some of the revisions being discussed by L.I.D. and its lenders.

Since the disclosure statement was filed in late July, the debtor has been in discussions with its lenders and the U.S. trustee over a few adjustments to the plan, Adam Rosen of Silverman Acampora LLP, counsel for L.I.D., told Judge James M. Peck of the...
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